ZAMANIA WOOL AGENCY Vs. COMMISSIONER OF TRADE TAX

JUDGEMENT

(1.) Present revision under Section 11 of U.P. Trade Tax Act (hereinafter referred to as "Act") is directed against the order of Tribunal dated 18.09.1995 relating to the assessment year 1985-86.

(2.) Applicant was carrying on the business of woolen yarn and during the year under consideration sold one old fiat car, the value of which was assessed by the assessing authority at Rs. 55,000/- and the tax has been assessed therein. First appellate authority reduced the value of the fiat car to Rs. 35,000/- but upheld the view of levy of tax. Tribunal by the impugned order confirmed the levy of tax.

(3.) Heard learned counsel for the parties.