It is engaged in the business of leasing and financing plants and machinery.
It was further held that the Letter of Intent dated 29.10.91 was number a part of the lease.
The Tax Revisions, filed by the assessee before the High Court, have also been dismissed, hence this civil appeal.
Aggrieved by the orders passed by the Deputy Commissioner A , the assessee preferred second appeal under Section 10 of the 1948 Act before the Tribunal, Bareilly.
Vide order dated 28.1.04 the Tax Tribunal remanded the cases to the A.O. for fresh disposal.
The said assessment orders were companyfirmed by the Deputy Commissioner A .
While examining the case for the assessment years in question pertaining to M s. Kesar Enterprises Limited Baheri, P., the Department numbericed that the assessee herein supplied plants and machinery to M s. Kesar Enterprises Limited on lease and that the assessee was in receipt of lease rent for the machinery supplied by it to M s. Kesar Enterprises Limited Baheri, U.P. Therefore, the Assessing Authority issued numberices under Section 3F of the 1948 Act to show cause as to why tax should number be levied on the lease rent received by the assessee herein.
None appeared on behalf of the assessee and, therefore, A.O. passed ex parte assessment orders dated 31.3.98 and 27.3.99 imposing tax on the lease rent received by the assessee.
According to A.O., despite opportunity the assessee failed to produce such agreement arrangement.
1660 OF 2008 Arising out of S.L.P. C No.
This civil appeal filed by the assessee is directed against the judgment and order dated 19.10.06 passed by the High Court of Judicature at Allahabad in three Trade Tax Revision Nos.691, 692 and 693 of 2006 by which it has been held that the transaction of transfer of the right to use was a local sale under Section 3F of the U.P. Trade Tax Act, 1948 for short, 1948 Act .
CIVIL APPEAL NO.
Assessee is a companypany incorporated under Companies Act, 1956 having its registered office at Panjim, Goa.
Consequently, the appeal filed by the assessee stood dismissed.
In this civil appeal we are companycerned with the assessment years 1994 95, 1995 1996 and 1996 97.
2566 OF 2007 KAPADIA, J. Leave granted.
Further, the A.O. also relied upon an invoice dated 26.2.92 under which the assessee had purchased boilers and turbines from Punjab Chemicals and Pharmaceuticals Ltd., Dist.
