https://www.taxtmi.com/caselaws?id=158016 Capital investment for an industrial exemption had to be reckoned up to the date of first sale where the notification made the exemption period commence from that date. The notification treated first sale within six months of production as the trigger for the exemption period, and Explanation (1)(e) required all exemption conditions, including investment, to be satisfied on the date the facility was granted. Accordingly, machinery and other investment costs incurred before the first sale could not be excluded. The correct basis was capital investment up to the first sale, not merely up to the first production date. en-us Mon, 22 Aug 1994 00:00:00 +0530 Tue, 15 Oct 2013 12:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158016 Capital investment for an industrial exemption had to be reckoned up to the date of first sale where the notification made the exemption period commence from that date. The notification treated first sale within six months of production as the trigger for the exemption period, and Explanation (1)(e) required all exemption conditions, including investment, to be satisfied on the date the facility was granted. Accordingly, machinery and other investment costs incurred before the first sale could not be excluded. The correct basis was capital investment up to the first sale, not merely up to the first production date. Case-Laws VAT and Sales Tax Mon, 22 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158016