https://www.taxtmi.com/caselaws?id=281479 Lease rent received on the transfer of the right to use machinery was held taxable under Section 3-F of the U.P. Trade Tax Act read with Article 366(29-A)(d), because the taxable event arose when the lease agreement transferred that right and the machinery was already in Uttar Pradesh and available for delivery. A prior letter of intent was treated only as a preliminary understanding and did not itself effect the transfer. The transaction was not shown to be an inter-State sale under Section 3 of the Central Sales Tax Act, so the State's taxing power was not excluded. The revisions were dismissed and the levy was upheld. en-us Thu, 19 Oct 2006 00:00:00 +0530 Thu, 20 Jun 2019 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281479 Lease rent received on the transfer of the right to use machinery was held taxable under Section 3-F of the U.P. Trade Tax Act read with Article 366(29-A)(d), because the taxable event arose when the lease agreement transferred that right and the machinery was already in Uttar Pradesh and available for delivery. A prior letter of intent was treated only as a preliminary understanding and did not itself effect the transfer. The transaction was not shown to be an inter-State sale under Section 3 of the Central Sales Tax Act, so the State's taxing power was not excluded. The revisions were dismissed and the levy was upheld. Case-Laws VAT and Sales Tax Thu, 19 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281479