https://www.taxtmi.com/caselaws?id=103472 For exemption under section 4-A of the U.P. Sales Tax Act, capital investment is to be assessed as on the date of first sale where that date governs commencement of the exemption period. A diesel set purchased after production began but before the first sale was therefore includible in the capital investment, because the relevant test was the position on the first sale date. On that basis, the unit's total investment crossed the statutory threshold and it qualified for the five-year exemption period rather than three years. en-us Tue, 11 Feb 1992 00:00:00 +0530 Wed, 20 May 2026 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103472 For exemption under section 4-A of the U.P. Sales Tax Act, capital investment is to be assessed as on the date of first sale where that date governs commencement of the exemption period. A diesel set purchased after production began but before the first sale was therefore includible in the capital investment, because the relevant test was the position on the first sale date. On that basis, the unit's total investment crossed the statutory threshold and it qualified for the five-year exemption period rather than three years. Case-Laws VAT / Sales Tax Tue, 11 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103472