V. RAMASWAMI, J.

In respect of the asst. yr. 1961-62, originally the petitioners were assessed on a turnover of Rs. 25, 200 and a penalty of Rs. 2, 646 was levied under S. 12(3) of the Madras General ST Act, 1959. On an appeal preferred by the petitioners, the AAC remanded the case for a fresh disposal. After remand, the AO held that, except in respect of three transactions the petitioners had proved that the other transactions were not liable to sales-tax. The three transactions which were disputed were held to be sales by the petitioners. Since they have not proved that they were second or subsequent sales. They were held to be liable for tax. The turnover of these items was determined at Rs. 892-50. This order was confirmed by the AAC and the Tribunal..

2. The contention of the petitioners before us and before the authorities below was that they were only financiers, that they advanced loans as against the security of motor cars. That there was no sale at all by them and that, therefore, no sales tax was payable. Before the Tribunal, the petitioners filed an affidavit setting out the details of the transactions. They have stated therein that the customers who desired t