https://www.taxtmi.com/caselaws?id=165572 A sales tax exemption scheme covering a new industrial unit as a whole continued to bind the manufacturer under condition 9 even though the exemption certificate was limited to cotton seeds, because the restriction did not exclude cotton manufactured in the same unit. The demand for sales tax and interest on cotton sales was therefore upheld. However, penalty for sales against forms under the general provisions was quashed because the assessee had a bona fide belief, supported by the authority's own conduct, that the exemption applied only to cotton seeds and the record did not establish the culpable intent required for penalty. en-us Fri, 24 Jun 2011 00:00:00 +0530 Mon, 15 Sep 2014 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165572 A sales tax exemption scheme covering a new industrial unit as a whole continued to bind the manufacturer under condition 9 even though the exemption certificate was limited to cotton seeds, because the restriction did not exclude cotton manufactured in the same unit. The demand for sales tax and interest on cotton sales was therefore upheld. However, penalty for sales against forms under the general provisions was quashed because the assessee had a bona fide belief, supported by the authority's own conduct, that the exemption applied only to cotton seeds and the record did not establish the culpable intent required for penalty. Case-Laws VAT and Sales Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165572