https://www.taxtmi.com/caselaws?id=375763 Traction batteries specially designed for electrically operated material handling equipment were treated as eligible for concessional purchase under the statutory scheme covering machinery worked by electricity and its parts and accessories. The article also notes that penalty was not sustainable where reassessment arose from a genuine dispute over exemption and the applicable rate of tax, because no escapement of turnover was established. The stated legal point is that concessional treatment may extend to specially designed components forming part of electrical machinery, and penalty cannot be imposed solely on a bona fide tax classification dispute. en-us Thu, 03 Jan 2019 00:00:00 +0530 Mon, 25 Feb 2019 07:40:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375763 Traction batteries specially designed for electrically operated material handling equipment were treated as eligible for concessional purchase under the statutory scheme covering machinery worked by electricity and its parts and accessories. The article also notes that penalty was not sustainable where reassessment arose from a genuine dispute over exemption and the applicable rate of tax, because no escapement of turnover was established. The stated legal point is that concessional treatment may extend to specially designed components forming part of electrical machinery, and penalty cannot be imposed solely on a bona fide tax classification dispute. Case-Laws VAT and Sales Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375763