https://www.taxtmi.com/caselaws?id=157785 For eligibility under section 4-A of the U.P. Sales Tax Act, capital investment had to be reckoned up to the date of first sale, and advances paid before that date toward machinery were includible even if the machinery had not yet been installed or used. The court rejected the department's exclusion of such advances, holding that all investment made before the first sale formed part of the capital investment for deciding the exemption period. On that basis, the investment crossed the Rs. 3,00,000 threshold, so the petitioner qualified for the five-year exemption benefit rather than the three-year period. en-us Thu, 17 Aug 1995 00:00:00 +0530 Thu, 10 Oct 2013 16:21:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157785 For eligibility under section 4-A of the U.P. Sales Tax Act, capital investment had to be reckoned up to the date of first sale, and advances paid before that date toward machinery were includible even if the machinery had not yet been installed or used. The court rejected the department's exclusion of such advances, holding that all investment made before the first sale formed part of the capital investment for deciding the exemption period. On that basis, the investment crossed the Rs. 3,00,000 threshold, so the petitioner qualified for the five-year exemption benefit rather than the three-year period. Case-Laws VAT and Sales Tax Thu, 17 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157785