2023 (1) TMI 587

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....ed in Second Appeal No. 544 of 2007 for assessment year 2004-05 (Central). 3. The revisionist before this Court is a Private Limited Company and is registered under the provisions of Companies Act and is engaged in the business of manufacture of Multi Layer Poly Film. The revisionist was granted exemption under Section 4-A of the U.P. Trade Tax Act, 1948 (hereinafter called as "Act of 1948") on 15.04.2000 read with Section 8(5) of the Central Act for a period of 12 years beginning from 28.08.1999. The assessing authority while making assessment order for the assessment year 2004-05 (Central) on 28.02.2007 refused to grant concession under Section 4-AA of the Act on the ground that the assessee has not submitted From-C against the transac....

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....t" 6. Sri Rahul Agarwal, learned counsel appearing for the revisionist has placed before the Court the decision rendered by Division Bench of this Court in case of Yamaha Motor Escorts Ltd. Vs. State of U.P. and others, Manu/UP/2465/2010, wherein the Division Bench had taken a view that nonproduction of form C/D cannot be taken to be a ground to deny the set-off of higher rate of tax from the limits prescribed in the eligibility certificate under Section 4A of the Act of 1948. 7. Per contra, Sri A.C. Tripathi, learned Standing Counsel while defending the order of the Tribunal, however, could not dispute the decision rendered by the Division Bench of this Court in case of Yamaha Motor Escorts Limited (supra). 8. Having heard the riv....