- (1.) Both the Cross Revisions have been filed under Section 11 of the U.P. Trade Tax Act, 1948 against the judgment and order dated 08.01.2002 passed by the Trade Tax Tribunal Lucknow in Appeal No.112 of 2001.
(2.) The brief facts of the case are that the assessee i.e. M/s Associated Cement Companies Ltd., Gauriganj, Distrcit Sultanpur (hereinafter referred as 'ACC') established a Unit for the manufacturing of Portland Pozzolana Cement (PPC) having fly ash etc. as raw materials. The unit started its production from 05.07.1998 and first sale was made on 25.08.1998. For getting the exemption under section 4-A, the assessee has shown the fixed capital investment (for short 'FCI') of Rs.61,54,62,372/-. The District Level Committee has rejected the certain entries constituted the FCI. Being aggrieved, the assessee has filed an appeal before the Tribunal who vide its impugned order has allowed certain claims towards FCI but rejected the few claims. Being aggrieved, the assessee as well as the department has filed the present revisions.
(3.) Heard Sri N. C. Mishra, learned counsel for the revisionist and Sri H.P. Srivastava, learned Additional Chief Standing Counsel for the department and perused the pleadings of the revisions as well as the written submissions.;