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.
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