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2016 (2) TMI 988 - HC - VAT and Sales TaxTransaction in the course of import or not - Master lease agreements - goods were leased by procuring from the vendors within the State of Karnataka - vendor imported the goods - Benefit of exemption by virtue of Section 5(2) of the Central Sales Tax Act, 1956 - transaction of lease effected during the periods of 2006-07 to 2010-11 - Held that: - the requirement for getting exemption is dependent upon inextricable link to the import from the foreign vendor and the customer and further with the end customer and the petitioner. The Tribunal has specifically taken note of the fact that as the link is not established or proved by the petitioner and hence not covered by the exemption clause as envisaged under Section 5(2) of the Act. It cannot be said that the Tribunal was not right in holding that the petitioner is not entitled to exemption under Section 5(2) of the Central Sales Tax Act, 1956. We do not find that the order of the Tribunal deserves to be interfered with. The questions raised are held against the assessee and in favour of the revenue.
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