1994 (8) TMI 275

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....ital investment in respect of an industrial unit eligible for exemption under section 4-A of the U.P. Sales Tax Act made up to the date of "first sale", is to be taken into account for the purposes of determining the period of exemption in accordance with the table given in the relevant notification No. ST-II-7558/ X-9 (208)-1981-U.P. Act XV-48-Order-85, dated December 26, 1985, or it is the inves....

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....cted on the ground that the petitioner's investment was less than Rs. 3 lacs on the date of "first production", namely, March 10, 1987 and therefore, it was entitled to exemption only for three years with effect from April 29, 1987-the date of "first sale". The order further indicates that the investment in the machinery made on March 24, 1987, that is to say, investment made before the date of "f....

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....the date of "first sale", as would be evident from the expression, "which shall be reckoned from the date of 'first sale', if such sale takes place not later than six months from the date of starting production". It is only if the "first sale" takes place on a date later than six months from the date of starting production, i.e., in other cases that the period is reckoned from a date "following ex....

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....ity may be granted to him" and since in the present case, facility is to be granted to the petitioner from the date of "first sale", the capital investment made up to that date is to be taken into account for the purposes of determining the period specified in column 3 of the table appended to the notification. The question delineated supra, is directly covered by the decision of the Supreme Co....