https://www.taxtmi.com/caselaws?id=168274 Incentive provisions for exemption under the U.P. Trade Tax Act were construed liberally to promote new industrial units. A mere reconstitution or succession of a partnership did not, by itself, destroy the character of the unit as a new unit for exemption purposes. Section 4-A(2-B), dealing with succession during an unexpired exemption period and requiring timely application, was treated as inapplicable because the exemption period had already expired before its introduction. The rejection of exemption was therefore not justified, and the reconstituted firm remained entitled to consideration for issuance of the eligibility certificate, subject to satisfaction of the statutory conditions. en-us Fri, 07 Jan 2005 00:00:00 +0530 Thu, 12 Feb 2015 15:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168274 Incentive provisions for exemption under the U.P. Trade Tax Act were construed liberally to promote new industrial units. A mere reconstitution or succession of a partnership did not, by itself, destroy the character of the unit as a new unit for exemption purposes. Section 4-A(2-B), dealing with succession during an unexpired exemption period and requiring timely application, was treated as inapplicable because the exemption period had already expired before its introduction. The rejection of exemption was therefore not justified, and the reconstituted firm remained entitled to consideration for issuance of the eligibility certificate, subject to satisfaction of the statutory conditions. Case-Laws VAT and Sales Tax Fri, 07 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168274