https://www.taxtmi.com/caselaws?id=371098 Exemption under section 4-A of the U.P. Trade Tax Act depended on strict proof that the assessee satisfied the scheme conditions, including genuine acquisition of new machinery. The Tribunal found the disputed investment was not negligible in relation to the total investment, and that finding accorded with the earlier remand directions. The assessee also failed to prove the genuineness of the purchases or the identity of the seller, while the record showed the alleged selling concern was non-existent. In the absence of proof of a bona fide purchase and eligible investment, the claim for exemption failed, and the Tribunal was justified in rejecting it. en-us Thu, 22 Nov 2018 00:00:00 +0530 Fri, 16 Aug 2019 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371098 Exemption under section 4-A of the U.P. Trade Tax Act depended on strict proof that the assessee satisfied the scheme conditions, including genuine acquisition of new machinery. The Tribunal found the disputed investment was not negligible in relation to the total investment, and that finding accorded with the earlier remand directions. The assessee also failed to prove the genuineness of the purchases or the identity of the seller, while the record showed the alleged selling concern was non-existent. In the absence of proof of a bona fide purchase and eligible investment, the claim for exemption failed, and the Tribunal was justified in rejecting it. Case-Laws VAT and Sales Tax Thu, 22 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371098