INDIAN STEEL & WIRE PRODUCTS LTD. vs STATE OF MADRAS

The Supreme Court held that the transactions of supplying steel products under the Iron and Steel (Control of Production and Distribution) Order, 1941, constituted 'sales' under the Madras General Sales Tax Act, 1939. The Court clarified that the authority of the Steel Controller derived from Clause 5, not Clause 10B, and emphasized that mutual assent in transactions is essential for a contract. The Tribunal's finding that supplies were made for consumption in Madras State was upheld, despite a minor portion possibly leaving the State.