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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 ..... ally come to the finding that the items that were sold after the closure of the business amounting to Rs. 1,33,20,839/- are in the nature of plant and machinery falling under capital goods. In light of the same, the Tribunal came to the finding that these goods would not fall within the definition of Section 2(e)(iv) of the Act - 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. 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 param ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 considering the liability of payment of interest on the admitted turnover and legally assessed turn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Pradesh Value Added Tax (Amendment) (Second) Ordinance, 2014 (U.P. Ordinance No.6 of 2014)) but does not include any activity in the nature of mer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 another, for cash or for deferred payment or for any other valuable consideration and includes, - (i) a transfer, otherwise than in pursuance of a contract of property in any goods for cash, deferred payment or other val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance 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 exigible to tax. He has further submitted that the various items that have been sold are not fixed assets but are assets which are movable in nature, and therefore, would fall under the definition of goods as defined in Section 2(m) of the Act. 7. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ods 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 only includes the sale of goods acquired during the period in which the business was carried out. This definition pre-supposes that the goods were acquired during the period in which the business was carried out and were subsequently sold after the closure ..... X X X X Extracts X X X X X X X X Extracts X X X X
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