Twentieth Century Finance Corpn.Ltd.& ... vs State Of Maharashtra on 9 May, 2000
8. It has also been brought to our notice that after the decision of the Apex Court in 20th Century Finance Corpn. (supra) the second respondent in the regular Assessment Order dated 2nd March, 2002 for the Assessment Year 1999-2000 1.7.1998 to 31.3.2000 under Section 29(6) of the RST on consideration of the petitioner's reply and the lease agreements has found that the machineries have been leased out to Shree Rajasthan Taxchem Ltd. by way of direct delivery in the course of import under the said lease agreement executed out of Rajasthan. He has held that in view of the decision of the Apex Court in 20th Century Finance Corporation the lease rent was not taxable. However, in view of the pendency of the instant writ petitions for the earlier years a right has been reserved to act in accordance with the judgment in the instant petitions.