9911796707
TMI Blog1997 (2) TMI 497X X X X Extracts X X X X X X X X Extracts X X X X ..... er and soaps and was granted an eligibility certificate for a period of five years, commencing from May 16, 1983. 3.. By order dated February 5, 1988 passed under section 4-A(3) of the U.P. Trade Tax Act, 1948, the Commissioner, Trade Tax, reduced the period from five years to three years on the ground that total investment in the unit set up by the opposite party was less than Rs. 3 lakhs. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reducing the period of exemption, was bad. 5.. It has come in the order of the Sales Tax Commissioner that the investment in the building of the unit was to the tune of Rs. 74,285 and the investment made in the plant and machinery was Rs. 55,341. Total of these two amounts is Rs. 1,29,626. It is minus the investment made in the land, which according to the Commissioner was self acquired propert ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at even if the land is deemed to be belonging to the partners, only the value of their share will be taken into account and that falls short of Rs. 3 lakhs. Assuming but not accepting that the value of the land on which the unit has been set up is only Rs. 2,25,000 as argued by the Standing Counsel, the value of the investment made in the building and plant and machinery has to be added to that. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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