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High Court Confirms Lease Rentals for Cars Leased Before April 1, 2005, Not Taxable Under KVAT Act.

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....Whether the Tribunal was justified in giving a finding that the lease rentals received after 1.4.2005 in respect of transfer of right to use KST suffered cars leased out prior to 1.4.2005 is not exigible to tax under the KVAT Act - held Yes - HC....

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