Supreme Court of India
M/s. Goa Carbon Ltd. v. Commissioner of Trade Tax
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that the judgment of this Court in the case of 20th Century Finance G Corpn.
Judgment, page 7
From the headnote
Uttar Pradesh Trade Tax Act, 1948: s.3F - Transaction of transfer of right to use - Supply of plant and machinery on c lease - Receipt of lease rent - Taxability of - Held, on facts, taxable in terms of s.3- as it was local sale. Assessee was engaged in the business of leasing and financing plants and machinery. While examining the case for the assessment year 1994-95, 1995-96 and 1996- 97, the Department noticed that assessee supplied plant and machinery to KE Ltd, U.P. on lease and in return received lease rent. The assessing officer issued show cause notice under s.3F of U.P. Trade Tax
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