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A new company is entering the real-estate market of Gujarat, a very successful businessman Girish Patel founder of Paras Pharmaceuticals is planning to build a 170-acre integrated township project at Sanand, a city lays in Ahmedabad district. After selling his stake in Paras in 2010, for Rs. 1, 000 crore, he turned investor and now aims to be a developer. Gift City Latest Update is closely working on the real-estate project planned at Sanand, which he thinks has the potential to develop into the next Gurgaon. Sanand is hardly 30 km from Ahemadabad and is close proximate to German engineering major Bosch Rexroth, and 2 km from Tata’s Nano project and Ford India’s upcoming plant. Comments in the background of the judgment of the Assotechs’ case cited above A subtle factual distinction was brought out by the Humble Allahabad High Court while delivering the judgment in the Assotechs’ case, on the issue that was before the Hon’ble Apex Court, in the K. Rahejas’ case.

The Humble Allahabad High Court observed that in the K. Rahejas’ case the appellants were constructing the unit for and on behalf of the person who had agreed to purchase the flats. Whereas in the Assotechs’ case the ‘petitioner is constructing the flats/apartments not for and on behalf of the prospective allotters but otherwise. The payment schedule would not alter the transaction. Gift City News Right title and interest in the construction continue to remain with the petitioner. It cannot be said that the constructions were undertaken for and on behalf of the prospective allotters and, therefore, the constructions in question undertaken by the petitioner would not fall under clause m of Section 2 read with Section 3F of the Act and are outside the purview of the provisions of the Act. The appellant the builder, engaged in the activity of building ships for different ship owners, entered into contracts agreeing with the owners to build, launch, fit, equip, test and complete in all respects a specified number of vessels at its shipyard and to deliver them.

The building of the vessels was to be under the instructions and test of classification surveyors and in accordance with plans and specifications. The builder had to furnish all labour, machinery, materials, equipment, spare parts and outfit required for the construction of the vessels to make them completely ready. The price of each vessel was fixed but was to be paid in instalments at different stages. Before the vessel was delivered trial runs had to be made after notice to the owners. The contract provided that after successful trial test the owner shall accept the vessel. Any insurance moneys recovered on damage being sustained were to be applied for the reinstatement of the vessel. If any insurance money was received on destruction of the vessel or total or constructive total damage, the builder was to refund to the owners the monies paid by them. The question was whether the transaction was a sale or only a works contract for the purpose of sales tax under the Andhra Pradesh General Sales Tax Act, 1957. The High Court held that the transaction was a sale. On appeal to the Supreme Court emphasis supplied.

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