https://www.taxtmi.com/caselaws?id=160042 The court interpreted Notification S.R.O. No. 499/90, granting tax exemption to industrial units, emphasizing that goods vehicles for industrial use could be considered part of plant and machinery for exemption. The Government Circular on plant and machinery valuation prevailed over conflicting Board of Revenue clarifications. Prior denials of exemption were overturned, pending reconsideration based on the Circular. A seized car was released to the petitioner, subject to conditions. The judgment clarified exemption provisions, underscored the authority of Government Circulars, and granted relief based on correct valuation principles. en-us Wed, 24 May 2000 00:00:00 +0530 Sat, 07 Dec 2013 15:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160042 The court interpreted Notification S.R.O. No. 499/90, granting tax exemption to industrial units, emphasizing that goods vehicles for industrial use could be considered part of plant and machinery for exemption. The Government Circular on plant and machinery valuation prevailed over conflicting Board of Revenue clarifications. Prior denials of exemption were overturned, pending reconsideration based on the Circular. A seized car was released to the petitioner, subject to conditions. The judgment clarified exemption provisions, underscored the authority of Government Circulars, and granted relief based on correct valuation principles. Case-Laws VAT and Sales Tax Wed, 24 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160042