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Exemption From Tax To Encourage Industrialization Cannot Be Equated With Refund Of Tax

The Delhi High Court in M/S. ULTRATECH CEMENT LIMITED vs STATE OF GUJARAT, refusing to allow refund of tax which was paid despite there being an exemption sanctioned for the payee, the Delhi High Court, on Thursday, observed that such exemption to encourage industrialization cannot be equated with refund of tax.

The Court was hearing a Petition filed by M/s. Ultratech Cement Limited, challenging an order passed in January last year by the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), whereby its claim for refund of Value Added Tax and Sales Tax as well as Electricity duty from the Governments of Maharashtra and Gujarat was dismissed.

Article referred: http://www.livelaw.in/exemption-tax-encourage-industrialization-cannot-equated-refund-tax-delhi-hc-read-judgment/

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