Lease agreements entered into before enforcement of Karnataka VAT Act aren't liable to VAT

CST & VAT : Karnataka VAT - Where assessee purchased cars prior to 1-4-2005 after payment of tax and had given same on lease to customers prior to 1-4-2005, i.e., prior to coming into force of Karnataka Value Added Tax Act, for a period of five years and lease rentals was payable on monthly basis, assessee was not liable to pay tax under section 3 of VAT Act on lease rentals received after 1-4-2005