2008 (8) TMI 836

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....on from July 7, 1991 to July 6, 1999 for the amount of Rs. 1,06,73,783.88. In the "eligibility certificate", "base production" was determined at 3,403.95 metric tons equivalent to 34,03,350 kilograms. Indisputably, the exemption was available in each year on the turnover of goods over and above the "base production". The assessment year involved herein is 199293 (U.P.). During the assessment proceedings, the contention of the dealer-applicant was that it is entitled to exemption over and above the "base production" for the assessment year under consideration. The said contention was not found favour with by the assessing authority. He was of the view that the dealer-applicant was not justified in claiming exemption from the very opening ....

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....and was entitled for exemption on the quantity over and above 34,03,350 kgs inasmuch as the applicant has wrongly admitted the tax on the quantity of 37,22,664 kilograms, is the Tribunal still justified in disallowing the claim of exemption and estimating taxable turnover at Rs. 11,71,906 in place of Rs. 9,40,767.93?" The learned counsel for the dealer-applicant submits that the dealer is entitled to avail of the exemption on the basis of the turnover of sale of goods in the assessment year, minus the base production. The learned Standing Counsel, on the other hand, submits that a dealer is required to achieve the base production first. The goods produced over and above the base production are entitled for exemption from trade tax. Unles....