https://www.taxtmi.com/caselaws?id=256705 Lease rentals payable on or after 1 April 2005 were held taxable under the Delhi Value Added Tax Act, 2004 even where the lease agreement had been executed earlier, because the taxable event was the exercise of the right to use goods after commencement of the Act. Section 106 did not alter that construction. Penalty under Section 86(10) could not be sustained because that provision required a false, misleading or deceptive return, and the Tribunal itself had found reasonable cause for filing returns at the earlier tax rate. The taxability challenge failed, but the penalty was set aside. en-us Thu, 05 Feb 2015 00:00:00 +0530 Sat, 17 Oct 2015 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256705 Lease rentals payable on or after 1 April 2005 were held taxable under the Delhi Value Added Tax Act, 2004 even where the lease agreement had been executed earlier, because the taxable event was the exercise of the right to use goods after commencement of the Act. Section 106 did not alter that construction. Penalty under Section 86(10) could not be sustained because that provision required a false, misleading or deceptive return, and the Tribunal itself had found reasonable cause for filing returns at the earlier tax rate. The taxability challenge failed, but the penalty was set aside. Case-Laws VAT and Sales Tax Thu, 05 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256705