https://www.taxtmi.com/caselaws?id=161435 In a post-licensing regime, the expression "licensed/registered capacity" in the Rajasthan Sales Tax Incentive/Deferment Schemes, 1987 and 1989 was construed purposively to mean the unit's existing installed capacity, not the maximum theoretical capacity stated in an old industrial licence. The schemes required both increased fixed capital investment and production growth of at least 25% of the relevant base capacity, with benefit available only after prescribed utilisation was achieved. Because industrial licensing had ceased and a strict licence-based reading would frustrate the schemes' object, claims for expansion benefits could not be rejected merely by reference to the obsolete licence capacity. The units were therefore eligible for treatment as expansion units under the schemes. en-us Fri, 15 Feb 2002 00:00:00 +0530 Tue, 28 Jan 2014 16:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161435 In a post-licensing regime, the expression "licensed/registered capacity" in the Rajasthan Sales Tax Incentive/Deferment Schemes, 1987 and 1989 was construed purposively to mean the unit's existing installed capacity, not the maximum theoretical capacity stated in an old industrial licence. The schemes required both increased fixed capital investment and production growth of at least 25% of the relevant base capacity, with benefit available only after prescribed utilisation was achieved. Because industrial licensing had ceased and a strict licence-based reading would frustrate the schemes' object, claims for expansion benefits could not be rejected merely by reference to the obsolete licence capacity. The units were therefore eligible for treatment as expansion units under the schemes. Case-Laws VAT and Sales Tax Fri, 15 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161435