- (1.) Heard Shri S.D. Singh, counsel for the revisionist and Shri B. K. Pandey, counsel for the Department. This trade tax revision under section 11 of the U.P. Trade Tax Act is directed against the order of the Trade Tax Tribunal dated October 11, 2001 passed in Second Appeal No. 152 of 2000 insofar as it directs that the applicant shall not be entitled to the benefit of section 4A of the U.P. Trade Tax Act, 1948 (hereinafter referred to as "the Act, 1948") qua the investment of Rs. 16,74,368 made towards purchase of dyes and moulds, as also in respect of expenditure made towards purchase of hydraulic oil to the tune of Rs. 61,468.
(2.) Before this court, the relief prayed for in this revision has been confined to the first part of the order of the Tribunal insofar as it refuses benefit of section 4A in respect of the investment made towards dyes and moulds only. Therefore, facts recorded hereunder are with reference to the relief as has been pressed before this court.
(3.) The revisionist before this court is a company incorporated under the Companies Act. It has set up a manufacturing unit at plot No. 59, Birthyan-Mandhana, Kanpur Dehat. The unit is engaged in manufacture of plastic ware and thermo ware. The company claiming to be a new unit, made an application for grant of exemption in terms of section 4A read with the notification published on July 27, 1991 for the period April 1, 1990 to March 31, 1995. For the purposes of claiming the said exemption, the assessee disclosed a total investment of Rs. 1,01,32,466.82 in plant and machinery. As against this amount of investment and fixed asset claimed by the revisionist, a sum of Rs. 16,74,368 said to be the price of dyes and moulds has been excluded therefrom under the impugned order.;