https://www.taxtmi.com/caselaws?id=158604 Machinery purchased against declaration was held outside the 1985 exemption notification because production began after its operative period, and it was not covered by the 1990 notification because the purchases predated that scheme; the applicable 1989 notification therefore justified tax at the concessional rate. Section 2(s)(iv) was found irrelevant to a purchase of machinery against declaration, and the goods were ultimately used for the declared purpose. Interest under Section 11B was upheld on the assessed tax liability, but penalty under Section 16(1)(k) was not exigible because the declared-purpose use occurred, with delay treated as reasonable. en-us Fri, 09 Aug 1996 00:00:00 +0530 Fri, 01 Nov 2013 15:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158604 Machinery purchased against declaration was held outside the 1985 exemption notification because production began after its operative period, and it was not covered by the 1990 notification because the purchases predated that scheme; the applicable 1989 notification therefore justified tax at the concessional rate. Section 2(s)(iv) was found irrelevant to a purchase of machinery against declaration, and the goods were ultimately used for the declared purpose. Interest under Section 11B was upheld on the assessed tax liability, but penalty under Section 16(1)(k) was not exigible because the declared-purpose use occurred, with delay treated as reasonable. Case-Laws VAT and Sales Tax Fri, 09 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158604