Moriroku Ut India (P) Ltd vs State Of U.P. & Ors

The Supreme Court held that the amortisation cost of toolings supplied free of cost by a customer is not includible in the sale price of auto components for the purpose of taxation under Section 3 of the U.P. Trade Tax Act, 1948. The Court clarified that equating sales tax to excise duty is incorrect, emphasizing that amortisation pertains to intangible assets and should not be treated the same as tangible asset depreciation. The appeal by Moriroku UT India (P) Ltd. was allowed, overturning the High Court's decision that upheld the tax imposition.