https://www.taxtmi.com/caselaws?id=105697 An industrial policy exemption for a separately classified prestigious unit was upheld where the policy fixed capital investment of Rs. 25 crores or more but did not require completion before commercial production. The State had accepted a time-bound arrangement allowing completion of the minimum investment within six months, and the unit met that condition. The negative list attached to S.R.O. No. 249 applied only to medium and large scale units and was not extended to prestigious units by express language or necessary implication. The unit was therefore entitled to the promised exemption, incentives, and subsidies under the policy and notifications. en-us Fri, 12 May 2006 00:00:00 +0530 Tue, 27 Aug 2013 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105697 An industrial policy exemption for a separately classified prestigious unit was upheld where the policy fixed capital investment of Rs. 25 crores or more but did not require completion before commercial production. The State had accepted a time-bound arrangement allowing completion of the minimum investment within six months, and the unit met that condition. The negative list attached to S.R.O. No. 249 applied only to medium and large scale units and was not extended to prestigious units by express language or necessary implication. The unit was therefore entitled to the promised exemption, incentives, and subsidies under the policy and notifications. Case-Laws VAT and Sales Tax Fri, 12 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105697