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TMI Blog2015 (10) TMI 973X X X X Extracts X X X X X X X X Extracts X X X X ..... honourable Supreme Court in the case of Municipal Corporation of City of Thane v. Vidyut Metallics Ltd. [2007 (9) TMI 399 - SUPREME COURT OF INDIA] has held that even though each assessment year in respect of tax liability is an independent event as against other year, yet if the nature and character of the transaction remains the same, the character of the transaction earlier by the orders of the court binds in subsequent year with regard to the nature and character of the subsequent similar transaction. The same position has also been recognized albeit impliedly by the honourable Supreme Court in the case of Southern Sea Foods Limited v. Joint Commissioner of Income-tax, Chennai [2009 (3) TMI 988 - SUPREME COURT]. - court cannot take a c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as whether exemption from tax granted on the sale and purchase of water pumps and/or diesel engines having capacity up to 10 horse power (HP) under Notification No. F.4(1)FD/TaxDiv/2000-361 dated June 19, 2000 under section 15 of the Rajasthan Sales Tax Act, 1994 (hereinafter the Act of 1994 ) was general or conditional in nature. In the event of the exemption being general in nature the assessee was entitled to exemption from tax qua the goods in issue even in respect of inter-State sales by virtue of section 8(2A) of the Central Sales Tax Act, 1956 (hereinafter the Act of 1956 ). The Tax Board on consideration of the matter held that the exemption in issue in respect of sale and purchase of water pumps and/or diesel engines having capac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. In my considered opinion, a different view cannot be taken in this revision petition directed against the decision of the Rajasthan Tax Board in Appeal No. 238/2002/Jaipur as the decision of the Rajasthan Tax Board in Appeal No. 239/2002/Jaipur on the same issue decided on July 10, 2002 has attained finality. The honourable Supreme Court in the case of Municipal Corporation of City of Thane v. Vidyut Metallics Ltd. [2009] 20 VST 680 (SC); [2007] 8 SCC 688 has held that even though each assessment year in respect of tax liability is an independent event as against other year, yet if the nature and character of the transaction remains the same, the character of the transaction earlier by the orders of the court binds in subsequent year ..... X X X X Extracts X X X X X X X X Extracts X X X X
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