https://www.taxtmi.com/caselaws?id=314033 Modvat credit or excise duty adjustment does not reduce the actual purchase price of plant, machinery, apparatus or equipment for computing fixed capital investment under the U.P. Trade Tax Act, because the incentive does not change the price paid for the capital goods. Expenditure incurred to provide car parking where required by applicable development regulations is also part of fixed capital investment, as it is a necessary cost incurred to comply with a statutory obligation connected with setting up the unit. On both issues, the assessee's claim was accepted and the disputed capital expenditure was included in fixed capital investment. en-us Mon, 15 Feb 2010 00:00:00 +0530 Tue, 14 May 2024 13:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314033 Modvat credit or excise duty adjustment does not reduce the actual purchase price of plant, machinery, apparatus or equipment for computing fixed capital investment under the U.P. Trade Tax Act, because the incentive does not change the price paid for the capital goods. Expenditure incurred to provide car parking where required by applicable development regulations is also part of fixed capital investment, as it is a necessary cost incurred to comply with a statutory obligation connected with setting up the unit. On both issues, the assessee's claim was accepted and the disputed capital expenditure was included in fixed capital investment. Case-Laws VAT and Sales Tax Mon, 15 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314033