https://www.taxtmi.com/caselaws?id=310783 Where an exemption notification ties the benefit to approval by the Central Government, the five-year period begins only on clear and unconditional approval. A conditional letter of intent was not treated as the reckonable approval, while the Green Card constituted the operative approval for exemption purposes. Commencement of production was held irrelevant because the notification linked eligibility to approval, not to actual production. The reckonable date was therefore 27-10-1994, and the assessee could claim the exemption only from that date. en-us Thu, 02 Feb 2023 00:00:00 +0530 Thu, 16 Nov 2023 20:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310783 Where an exemption notification ties the benefit to approval by the Central Government, the five-year period begins only on clear and unconditional approval. A conditional letter of intent was not treated as the reckonable approval, while the Green Card constituted the operative approval for exemption purposes. Commencement of production was held irrelevant because the notification linked eligibility to approval, not to actual production. The reckonable date was therefore 27-10-1994, and the assessee could claim the exemption only from that date. Case-Laws VAT and Sales Tax Thu, 02 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310783