9911796707
TMI Blog1995 (8) TMI 282X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to as "the Act"). The only point involved in this case is as to whether the petitioner is entitled to the benefit of eligibility certificate for a period of 3 years or 5 years. Affidavits have been exchanged between the parties. This legal position is not disputed that the State Government of U.P. vide Notification No. ST-II604/X-9(208)/1981-U.P. Act 15/48-Order-85 dated January 29, 1985 published in U.P. Gazette, Extraordinary, dated January 29, 1985, notified that the Governor is pleased to declare that, in respect of any goods manufactured in an industrial unit, which is a new unit as defined in the aforesaid Act of 1948 established in the areas mentioned in column 2 of the Table appended in the said notification, the date of star ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itted that the petitioner has invested a sum of Rs. 1,12,931.60 towards purchase of land and construction of building and Rs. 7,35,042.44 towards new machineries purchased and installed in the unit. Thus, capital investment of petitioner exceeds Rs. 3,00,000 which is the main requirement for grant of exemption for a period of 5 years. Therefore, main contention of petitioner's counsel is that since the capital investment of the unit in question exceeds Rs. 3,00,000 hence he is entitled to exemption for a period of five years but the authorities have granted exemption only for a period of 3 years. Learned counsel representing the respondents contended that in the instant case the date of first sale is June 1, 1985 and the capital investm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... motors be included in the capital investment and thus by March 9, 1984, petitioner's investment was more than Rs. 3,00,000. In the instant case admittedly petitioner's capital investment is Rs. 2,33,800 till the date of first sale, i.e., June 1, 1985. Petitioner has filed receipts of advances vide annexure 7 to the writ petition and the receipt filed at pages 48 and 49 of the paper book show that petitioner paid an advance of Rs. 25,000 on April 26, 1985 and Rs. 50,000 on January 30, 1985 and Rs. 10,000 on January 28, 1985. All these advances are invested before June 1, 1985 and thus, if these amounts or advances are included in the capital investment, it exceeds to Rs. 3,00,000. In view of the discussions made above, this Court is of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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