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TMI Blog2024 (4) TMI 369X X X X Extracts X X X X X X X X Extracts X X X X ..... ed March 20, 2023 passed by the Tribunal. 3. This revision petition has been admitted on the following questions of law : "(i) Whether on the facts and circumstances of the case, the Commercial Tax Tribunal was legally justified in affirming the order of the first appellate authority that turnover amounting to Rs. 1,33,20,839/- of old machinery and equipment after the closure of business is not exigible to tax by ignoring the amended provisions of the term of "Business" as contained in Clause (iv) of Section 2(e) of the U.P. VAT Act, 2008 which had been brought on the statute book from 26.05.2014 by U.P. Act No.33 of 2014? (ii) Whether on the facts and circumstances of the case, the Commercial Tax Tribunal was legally justified in not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a specified period); (iii) any transaction of buying, selling or supplying plant, machinery, raw materials, processing materials, packing materials, empties, consumable stores, waste or by-products, or any other goods of a similar nature or any unserviceable or obsolete or discarded machinery or any parts or accessories thereof or any waste or scrap or any of them or any other transaction whatsoever, which is ancillary to or is connected with or is incidental to, or results from such trade, commerce, manufacture, adventure or concern, works contract or lease, (iv) any transaction, even after the closure of business, if it relates to sale of goods acquired during the period in which business was carried out. (Added as per the Uttar Prad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... engers or both; (v)capital goods used in the execution of a works contract; (g) ... (h) ... (i) ... (j) ... (k) ... (l) ... (m) "goods" means every kind or class of movable property and includes all materials, commodities and articles involved in the execution of a works contract, and growing crops, grass, trees and things attached to, or fastened to anything permanently attached to the earth which, under the contract of sale, are agreed to be severed, but does not include actionable claims, stocks, shares or securities; ***** (ac) "sale" with its grammatical variations and cognate expressions, means any transfer of property in goods (otherwise than by way of a mortgage, hypothecation, charge or pledge) by one person to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... than news paper; and shall include,- (i) composition money either at an agreed rate or in lump sum, as the case may be, payable, in lieu of actual amount of tax due on turnover of sales or purchases or both, as the case may be in accordance with provisions of section 6 or section 6A; (ii) amount of reverse input tax credit; (w.e.f. 01.01.2008) (iii) the amount of additional tax leviable under section 3-A (iv) the amount of cess leviable under section 3-B" 6. Counsel for the revisionist has argued that after the amendment in Section 2(e) of the Act in the year 2014, any transaction made even after the closure of the business in relation to the sale of goods acquired during the period in which the business was carried out, would be e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee to come to the finding that such items were in the nature of plant and machinery, and therefore, not exigible to tax. The finding of the Tribunal and the First Appellate Authority that the particular goods were in nature of capital goods and not the goods under Section 2(m) of the Act is not a perverse finding. In my view, this Court in its revisional jurisdiction would not enter into the findings of the Tribunal unless the same are factually unbelievable and perverse. The Tribunal being the last fact finding authority, its findings are paramount and should not be interfered with by this Court unless the same are patently illegal and perverse. 9. It is to be noted that the amended definition of Section 2(e) of the Act onl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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