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Issues: Whether, for the purpose of exemption under Notification No. 105/80 dated 19-6-1980, the capital investment limit had to be computed only with reference to the plant and machinery installed for manufacture of liquid nitrogen, or whether the value of common plant and machinery in the dairy complex was also to be included.
Analysis: The notification required the officer to be satisfied that the total capital investment in plant and machinery installed in the industrial unit in which the exempted goods were manufactured did not exceed the prescribed limit. The expressions used in the notification indicated that the industrial unit and the goods under clearance were not necessarily co-extensive with every item of plant in the entire complex. At the same time, where certain machinery served the liquid nitrogen plant as common facility, such as the generator and chilled-water plant, the value of that common machinery could not be ignored in computing the investment referable to the exempted unit. In view of the absence of separate figures for those common facilities, recomputation by the original authority was necessary.
Conclusion: The capital investment for exemption purposes had to include the liquid nitrogen plant and also the common plant and machinery serving that unit, and the matter was required to be recomputed accordingly.
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