https://www.taxtmi.com/caselaws?id=156668 An industrial unit was treated as satisfying the section 4-A exemption condition where the term loan had been sanctioned and disbursed before machinery installation and commencement of production, even though some machinery had been purchased on credit earlier. The later introduction of a lease-duration requirement could not be used to deny exemption because that condition arose after the unit had been established and after the application was filed. On that reasoning, the exemption claim was upheld and the refusal to grant the eligibility certificate could not stand. en-us Wed, 03 Jan 1990 00:00:00 +0530 Mon, 23 Sep 2013 15:12:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156668 An industrial unit was treated as satisfying the section 4-A exemption condition where the term loan had been sanctioned and disbursed before machinery installation and commencement of production, even though some machinery had been purchased on credit earlier. The later introduction of a lease-duration requirement could not be used to deny exemption because that condition arose after the unit had been established and after the application was filed. On that reasoning, the exemption claim was upheld and the refusal to grant the eligibility certificate could not stand. Case-Laws VAT and Sales Tax Wed, 03 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156668