https://www.taxtmi.com/caselaws?id=211843 Exemption notifications are construed strictly for eligibility, and "investment" in plant and machinery means the actual amount spent, not its depreciated value; on that basis, a dealer exceeding the prescribed limit could not claim the exemption. Statutory interest on tax due under returns is compensatory and accrues from the date of default, without waiting for assessment or a demand notice, where the admitted tax remains unpaid within time. The exemption claim was rejected and the levy of interest was upheld. en-us Fri, 22 Oct 2010 00:00:00 +0530 Tue, 10 Dec 2013 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211843 Exemption notifications are construed strictly for eligibility, and "investment" in plant and machinery means the actual amount spent, not its depreciated value; on that basis, a dealer exceeding the prescribed limit could not claim the exemption. Statutory interest on tax due under returns is compensatory and accrues from the date of default, without waiting for assessment or a demand notice, where the admitted tax remains unpaid within time. The exemption claim was rejected and the levy of interest was upheld. Case-Laws VAT and Sales Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211843