9911796707
TMI Blog1994 (8) TMI 275X X X X Extracts X X X X X X X X Extracts X X X X ..... x 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 investment up to the date of "first production" which alone is relevant for the purposes of determining the period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 "first sale", was ignored for the purposes of reckoning the period of exemption under the notification aforestate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irst 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 expiration of six months from the date of starting production" as provided for in the notification. Explanation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate 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 Court in Vijay Enterprises v. Sales Tax Officer [1992] 85 STC 239; 1992 UPTC 421. It is not disputed that the date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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