https://www.taxtmi.com/caselaws?id=412126 A notification granting first point tax treatment for specified spare parts and machinery items was held to apply only prospectively from 01.04.2001, because its text contained no indication of retrospective operation. The assessment period 1999-2000 preceded the notification's commencement, so the benefit could not be extended to that year. On that basis, the items were not exigible to first point tax for 1999-2000, and disallowance of Form-XXXIV was held improper. en-us Wed, 01 Sep 2021 00:00:00 +0530 Fri, 10 Sep 2021 09:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412126 A notification granting first point tax treatment for specified spare parts and machinery items was held to apply only prospectively from 01.04.2001, because its text contained no indication of retrospective operation. The assessment period 1999-2000 preceded the notification's commencement, so the benefit could not be extended to that year. On that basis, the items were not exigible to first point tax for 1999-2000, and disallowance of Form-XXXIV was held improper. Case-Laws VAT and Sales Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412126