TMI Blog2014 (8) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... the Lease Act) read with section 52 of the Bombay Sales Tax Act 1959 (the BST Act) - Held that:- One of the reasons for exercising power under section 52(2) of the BST Act was that it is doubtful whether the transaction constituted a sale at all or not. However, that issue was not even determined. It is in this background that it is necessary to ascertain whether the exercise of powers under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the applicability of the Maharashtra Lease Tax Act 1985 :- 1. Whether the sublicense of Monsanto Technology vide agreement dated 26th April 2002 amounts to 'sale' under section 2(10) of the Maharashtra Lease Tax Act 1985 ? 2. If the transaction vide agreement dated 26th April 2002 amounts to a 'sale' under the Maharashtra Lease Tax Act 1985, whether the same is covered und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase Act but rejected the prayer for prospective effect. The Tribunal, on the Respondent's Appeal, exercised power under section 52(2) and issued directions that the impugned transactions effected by the Respondent during the period upto 31st March 2005 shall not be liable to tax under the Lease Act provided the Appellant has not collected any tax thereon. Accordingly, the Tribunal has held tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in section 4 and section 8(1) of the Maharashtra Sales Tax on Transfer of the right to use Goods for any Purposes Act 1985 (the Lease Act) read with section 52 of the Bombay Sales Tax Act 1959 (the BST Act), the Tribunal was justified in directing that the impugned transaction of sales of technical know how effected by the Respondent during the period upto 31.3.2005 shall not be liable to tax prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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