2008 (11) TMI 614

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....preferred this appeal under section 68 of the Punjab Value Added Tax Act, 2005 (for short, "the Act"), proposing to raise following substantial questions of law: "(a) Whether the Tribunal is correct in interpreting that the total exports in ten years have to be 25 per cent and the said 25 per cent has to be calculated annually? (b) Whether the Tribunal has interpreted that the terms of polic....

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.... exemption under the Punjab General Sales Tax (Deferment and Exemption) Rules, 1991 (for short, "the Rules") for a period of ten years from March 20, 2001 to March 19, 2011. The exemption certificate granted to the petitioner was under category "A", i.e., export oriented unit. Under rule 2(xi-a) of the Rules, such a unit is defined as unit, exporting at least 25 per cent of its products with a min....

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....uld not be a ground to continue exemption when in a particular year the unit did not fulfil the eligibility of exporting 25 per cent as required. The assessee preferred an appeal and the appellate authority vide order dated March 30, 2006 (annexure A3) upheld the view of the assessing officer. On further appeal, the Tribunal held that the assessee will not be entitled to tax exemption in the year ....

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.... If at the end of the deferment period or any time earlier, the appellant is able to show the exports and foreign exchange receipts in the percentages to its production as required and achieve the targets by totalling up, then the respondent-State shall be liable to refund of the tax collected during the period of exemption when the unit had not been able to achieve the targets and tax had been ch....