https://www.taxtmi.com/caselaws?id=105778 An exemption notification under section 4-A of the U.P. Trade Tax Act, 1948 granted relief to units undertaking expansion or modernisation on turnover of goods manufactured in excess of base production. The Court held that, read with the definition of assessment year, entitlement had to be computed on the basis of the entire assessment year, not from the date base production was first achieved. Monthly returns and interim tax payments did not change that annual computation. Exemption therefore applied to the year's turnover above base production, rather than only to sales made after base production was reached. en-us Wed, 02 Aug 2006 00:00:00 +0530 Tue, 01 Jul 2014 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105778 An exemption notification under section 4-A of the U.P. Trade Tax Act, 1948 granted relief to units undertaking expansion or modernisation on turnover of goods manufactured in excess of base production. The Court held that, read with the definition of assessment year, entitlement had to be computed on the basis of the entire assessment year, not from the date base production was first achieved. Monthly returns and interim tax payments did not change that annual computation. Exemption therefore applied to the year's turnover above base production, rather than only to sales made after base production was reached. Case-Laws VAT and Sales Tax Wed, 02 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105778