https://www.taxtmi.com/caselaws?id=200420 An eligibility certificate for an expanded unit permitted enhanced installed capacity up to 5100 M.T. and did not state that tax exemption would stop once annual production crossed that level. The only production-based restriction was that exemption would not apply in any year when production remained below the original 4189 M.T. capacity. The governing limit was the cumulative exemption ceiling of 250% of capital investment in fixed assets, or the 9-year period, whichever ended earlier. The revisional authority wrongly read an additional restriction into the certificate, so the denial of exemption was quashed and reassessment directed. en-us Tue, 04 Apr 2017 00:00:00 +0530 Wed, 28 Mar 2018 08:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200420 An eligibility certificate for an expanded unit permitted enhanced installed capacity up to 5100 M.T. and did not state that tax exemption would stop once annual production crossed that level. The only production-based restriction was that exemption would not apply in any year when production remained below the original 4189 M.T. capacity. The governing limit was the cumulative exemption ceiling of 250% of capital investment in fixed assets, or the 9-year period, whichever ended earlier. The revisional authority wrongly read an additional restriction into the certificate, so the denial of exemption was quashed and reassessment directed. Case-Laws VAT and Sales Tax Tue, 04 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200420