https://www.taxtmi.com/caselaws?id=161095 A concessional tax reduction for small-scale industrial units applied only from 1 April 1995 under S.R.O. No. 429 of 1995, and the later explanation inserted by S.R.O. No. 585 of 1996 was to operate from that date. The explanation provided that where turnover first exceeds the Rs. 50 lakh limit, the higher rate applies only to the excess turnover. On that basis, the benefit was to be tested with reference to the regime commencing on 1 April 1995, and the explanatory benefit applied for assessment year 1995-96. en-us Tue, 07 Aug 2001 00:00:00 +0530 Tue, 31 Dec 2013 17:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161095 A concessional tax reduction for small-scale industrial units applied only from 1 April 1995 under S.R.O. No. 429 of 1995, and the later explanation inserted by S.R.O. No. 585 of 1996 was to operate from that date. The explanation provided that where turnover first exceeds the Rs. 50 lakh limit, the higher rate applies only to the excess turnover. On that basis, the benefit was to be tested with reference to the regime commencing on 1 April 1995, and the explanatory benefit applied for assessment year 1995-96. Case-Laws VAT and Sales Tax Tue, 07 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161095