https://www.taxtmi.com/caselaws?id=161910 Exemption under section 4-A of the U.P. Trade Tax Act for an expansion unit is computed with reference to the entire assessment year, because the notification links relief to turnover from production in excess of base production in a completed twelve-month period. Reading the notification with rule 41(8) and section 7(1-A), the extent of exemption is determined at the end of the assessment year, not from the date on which base production is first achieved. The incentive provision is to be construed liberally so as to advance industrial promotion, and the assessee was held entitled to the exemption on that year-wise basis. en-us Wed, 04 May 2005 00:00:00 +0530 Mon, 10 Feb 2014 18:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161910 Exemption under section 4-A of the U.P. Trade Tax Act for an expansion unit is computed with reference to the entire assessment year, because the notification links relief to turnover from production in excess of base production in a completed twelve-month period. Reading the notification with rule 41(8) and section 7(1-A), the extent of exemption is determined at the end of the assessment year, not from the date on which base production is first achieved. The incentive provision is to be construed liberally so as to advance industrial promotion, and the assessee was held entitled to the exemption on that year-wise basis. Case-Laws VAT and Sales Tax Wed, 04 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161910