VINAY INDUSTRIES Vs. C T O

JUDGEMENT

(1.) IN this application the petitioner has questioned the legality of the order passed by the concerned assessing authority declining to accept certain investments made by the petitioner in determining the "gross value of fixed assets" of the petitioner. The petitioner, Vinay Industries was previously a proprietorship concern of Sri Ratanlal Jain. The said proprietorship was converted into a partnership firm of three partners namely Ratanlal Jain, Uttam Sultania and Bimala Sultania with effect from April 1, 2003.

(2.) THE said partnership firm was also duly registered with the Registrar of Firms, West Bengal under the provisions of the Indian Partnership Act, 1932. The petitioner is a registered dealer and has been carrying on business of manufacturing gunny bags and laminated jute bags. Petitioner, being a small -scale industrial unit for manufacture of goods was granted eligibility certificate under Section 39 of the West Bengal Sales Tax Act, 1994 for a period of five years from May 30, 2000 to May 29, 2005 and was enjoying tax exemption as available in law.

(3.) "Gross value of fixed assets" (here referred to as "gross value") has been defined in Explanation (a) to Section 39. The said Explanation is quoted below: