https://www.taxtmi.com/caselaws?id=162123 Diesel generating sets leased by the assessee were treated as plant and machinery within entry 3 of the Seventh Schedule, because the expression was given its ordinary commercial meaning and the sets were regarded as self-contained tools of trade capable of generating power. On that basis, section 5-C applied to the transfer of the right to use those goods, and the lease rentals were held taxable. The exemption notification was construed as covering only the sale of diesel captive generation units, not the rentals from leasing them. The contrary view that the goods fell outside the Seventh Schedule and within the Fifth Schedule was rejected, and the revisional order was sustained. en-us Fri, 29 Oct 2004 00:00:00 +0530 Wed, 19 Feb 2014 15:26:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162123 Diesel generating sets leased by the assessee were treated as plant and machinery within entry 3 of the Seventh Schedule, because the expression was given its ordinary commercial meaning and the sets were regarded as self-contained tools of trade capable of generating power. On that basis, section 5-C applied to the transfer of the right to use those goods, and the lease rentals were held taxable. The exemption notification was construed as covering only the sale of diesel captive generation units, not the rentals from leasing them. The contrary view that the goods fell outside the Seventh Schedule and within the Fifth Schedule was rejected, and the revisional order was sustained. Case-Laws VAT and Sales Tax Fri, 29 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162123