Section 2(e) UPVAT, Plant, Machinery Sold After Closure Of Business Are Capital Goods, Excluded From Levy Of Tax: Allahabad High Court

In a significant ruling on April 5, 2024, the Allahabad High Court, presided over by Hon'ble Justice Shekhar B. Saraf, delivered a verdict clarifying the tax liability for capital goods sold after the closure of a business under the U.P. VAT Act, 2008. The case, The Commissioner, Commercial Tax U.P. vs. M/S R.P. Milk Made Products (P) Ltd., revolved around whether such sales are subject to tax under the amended…