9911796707
TMI Blog2009 (2) TMI 761X X X X Extracts X X X X X X X X Extracts X X X X ..... ernment on February 20, 1995. The approval was for a period of five years ending on February 20, 2000. The respondent claimed exemption on purchase turnover of rubber wood under Notification SRO No. 1090 of 1999, which provided for exemption for five years for purchase of industrial raw materials by 100 per cent EOU from the date of approval of such EOU by the Central Government. The notification was later amended whereby exemption for five years was to commence from date of commencement of commercial production instead of date of approval as an EOU. In the course of assessment, the assessing officer did not grant exemption for purchase during the year 2001-02, for the reason that exemption was over on February 20, 2000. Even though first a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate in the form in annexure I from the purchaser and produce before the assessing authority. Admittedly for the first time the respondent was granted approval as a 100 per cent EOU by the Central Government, by order dated February 20, 1995. The approval was valid up to February 20, 2000. However, later the Central Government again granted approval to the respondent on June 7, 2000 for another period of five years. The question to be considered is whether the grant of subsequent approval entitles the respondent for exemption for a period of five years from the date of approval granted a second time. We are unable to uphold the order of the Tribunal because the exemption granted under the notification is only for a period of five years, fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approval granted is for five years or for lesser period or renewed thereafter. In other words, the condition of the notification is such that exemption is available to the industry so long as it remains as a 100 per cent EOU and such exemption is only for a period of five years and that it should be reckoned from the date of first approval and the period cannot be extended by renewals of approval. The tax revision petition is consequently allowed, reversing the order of the Tribunal and by restoring the assessment. However, we make it clear that the industrial unit is entitled to claim any other exemption or concession if available under any other notification. The respondent is free to claim the same and while revising the assessment, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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