https://www.taxtmi.com/caselaws?id=424861 Machinery purchased for use in a stone-crushing business, rather than for resale or ordinary trading, is capital equipment and not stock-in-trade merely because it was procured from outside the State through inter-State purchase using C-Form. On that basis, composition eligibility under the Karnataka Value Added Tax Act could not be denied solely because the business acquired such machinery inter-State. The respondent was therefore entitled to pay tax under the composition scheme, and the revision petition failed while the Tribunal's order in favour of the assessee was sustained. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 11 Jul 2022 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424861 Machinery purchased for use in a stone-crushing business, rather than for resale or ordinary trading, is capital equipment and not stock-in-trade merely because it was procured from outside the State through inter-State purchase using C-Form. On that basis, composition eligibility under the Karnataka Value Added Tax Act could not be denied solely because the business acquired such machinery inter-State. The respondent was therefore entitled to pay tax under the composition scheme, and the revision petition failed while the Tribunal's order in favour of the assessee was sustained. Case-Laws VAT and Sales Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424861