https://www.taxtmi.com/caselaws?id=330527 Section 4-BB of the U.P. Trade Tax Act 1948 allowed deduction of tax already paid on raw material and packing material used in manufacturing notified goods, and the provision was construed literally as a beneficial relief measure. The Court held that no statutory basis existed to proportionately reduce the set-off merely because part of the finished goods was sold to tax-exempt purchasers, since the language did not distinguish between taxable and exempt sales. The proportionate apportionment of credit was therefore unsustainable, and the assessee remained entitled to the full statutory set-off. en-us Mon, 18 Jul 2016 00:00:00 +0530 Wed, 27 Jul 2016 14:11:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330527 Section 4-BB of the U.P. Trade Tax Act 1948 allowed deduction of tax already paid on raw material and packing material used in manufacturing notified goods, and the provision was construed literally as a beneficial relief measure. The Court held that no statutory basis existed to proportionately reduce the set-off merely because part of the finished goods was sold to tax-exempt purchasers, since the language did not distinguish between taxable and exempt sales. The proportionate apportionment of credit was therefore unsustainable, and the assessee remained entitled to the full statutory set-off. Case-Laws VAT and Sales Tax Mon, 18 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330527