2008 (8) TMI 835

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....as carrying on the business of manufacturing and sale of electrical goods. It was a "new unit" within the meaning of section 4A of the U.P. Trade Tax Act, 1948 and was granted exemption on the turnover of sale for the period up to March 31, 1990, in pursuance of the Notification No. 7558 dated December 26, 1985. In the assessment proceedings for the assessment year 1990-91, the dealer-opposite par....

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....e Trade Tax Tribunal is legally justified to hold that the dealer is entitled for exemption under the provisions of section 4A on the sale of stock after March 31, 1990 despite, the exemption being allowed up to March 31, 1990 on the turnover of sale? Heard Shri B.K. Pandey, learned Standing Counsel for the Department. None is present on behalf of the dealer-opposite party to contest the rev....

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....ales" and "during such period not exceeding 15 years" is indicative of the fact that the exemption is granted on such turnover of goods which were manufactured and sold during the exemption period and not otherwise. The notification issued under the said Act, relevant to the facts of the present case, also provides for grant of exemption on the turnover of sales of such goods for the period spe....