Sale of Goods Act

The assessee, M/s EMCO Ltd., manufactures transformers and pays central excise duty on the price at which it sells them to State Electricity Boards. The Revenue argued that the transaction value for duty purposes must include freight and transit‑insurance costs, contending that the place of removal was the buyer’s prem…

M/s Devi Ispat Ltd. had obtained various credit facilities from Central Bank of India. After alleged fraud, the bank asked the company to shift its accounts and later to close them. The company settled its dues by receiving a Rs 15 crore cheque from State Bank of India and requested the return of title deeds and issuan…

The exporter D.K. Lall shipped goods on an FOB basis but obtained marine cargo insurance by misrepresenting the transaction as CIF, thereby breaching the duty of utmost good faith and lacking insurable interest under the Marine Insurance Act, 1963. The National Consumer Disputes Redressal Commission held the insurer no…

The appellant, the Commissioner of Income Tax, Bombay, challenged the deduction claimed by Tasgaon Taluka Sahakari Sakhar Karkhana Ltd., a cooperative sugarcane processor, for the price paid to cane growers that exceeded the Statutory Minimum Price (SMP) fixed under Clause 3 of the Sugar Cane (Control) Order, 1966. The…