9911796707
TMI Blog2014 (1) TMI 777X X X X Extracts X X X X X X X X Extracts X X X X ..... it 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. Heard Sri N. C. Mishra, lear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the Tribunal has also rejected it. On perusal of the record, it appears that there is a difference between the development and approval of the land drawing. The charges paid for approval of the land drawing cannot be equated towards the land development charges. So, the Tribunal has rightly rejected the claim of the assessee. The next grievance of the assessee is pertaining to the dis-allowance of Rs.26,25,100/- paid to UPSIDC as interest on the deferred payment of installment of the premium. The Tribunal has rightly allowed the same as it is a certain liability. Hence, the order of the Tribunal is hereby sustained. The next grievance of the assessee is pertaining to the addition of Rs.1,32,235/- towards lease rent / occupancy charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y sustained. The next issue is pertaining to the dis-allowance of Rs.2,73,000/-, claimed to have been spent for "Technical Study" for installation of Plant and Machinery. The Tribunal observed in its order that the DLC has rejected the claim as it is not directly related for the existing establishment and running of the factory. The expenses were technical in nature. So, the investment was rightly rejected towards the FCI. The next issue is pertaining to the dis-allowance of Rs.66,00,128/-, claimed being pre-operative expenses for creation of the fixed assets before the date of the first production. The Tribunal, after following the ratio laid down by the Hon'ble Supreme Court as well as by the Hon'ble High Court has rejected the claim of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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