https://www.taxtmi.com/caselaws?id=342639 A beneficial sales-tax incentive scheme was construed as capped by the stated cut-off date, so expenditure incurred after 31 December 2005 and claims to extend benefits through Phase-II as a pipeline project were rejected. The scheme could not be enlarged beyond its terminal date merely because production had begun shortly before the cut-off. At the same time, plant and machinery acquired before the cut-off date remained eligible capital investment even if payment was made later, because deferred payment does not alter the character of an already acquired asset. Advance payments for assets not actually acquired and installed within the relevant period were excluded. en-us Tue, 02 May 2017 00:00:00 +0530 Sat, 24 Mar 2018 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342639 A beneficial sales-tax incentive scheme was construed as capped by the stated cut-off date, so expenditure incurred after 31 December 2005 and claims to extend benefits through Phase-II as a pipeline project were rejected. The scheme could not be enlarged beyond its terminal date merely because production had begun shortly before the cut-off. At the same time, plant and machinery acquired before the cut-off date remained eligible capital investment even if payment was made later, because deferred payment does not alter the character of an already acquired asset. Advance payments for assets not actually acquired and installed within the relevant period were excluded. Case-Laws VAT and Sales Tax Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342639