Commr.Commercial Tax U.P vs M/S Oswal Greentech Limited

The Supreme Court addressed the applicability of Sections 3-B and 4-B(2) of the U.P. Trade Tax Act, 1948, concerning the sale of goods manufactured from raw materials purchased at a concessional rate. The Court upheld the tribunal's decision that the respondent did not violate the conditions of the Act by transferring finished goods outside the state, as the tribunal relied on a precedent case, Camphor and Allied Products Ltd. v. State of U.P. The Court affirmed the High Court's dismissal of the Revenue's revision petition, thereby annulling the penalty imposed on the respondent.