JUDGMENT :

SAUMITRA DAYAL SINGH, J.

1. Heard Sri Vishwjit, learned counsel for the assessee and Sri A.C. Tripathi, learned Standing Counsel for the revenue.

2. Present revision has been filed by the assessee, against the order of the Trade Tax Tribunal, Aligarh Bench, Aligarh, dated 02.01.2008, in Second Appeal No. 445 of 2002 for A.Y. 1997-98 (U.P.) whereby the Tribunal has dismissed the appeal filed by the assessee and thereby upheld the order passed by the first appeal authority, restricting the available limit of exemption under section 4-A of the U.P. Trade Tax Act, 1948 (hereinafter referred to as the ‘Act’) to 5% of the sale price.

3. The revision has been pressed on the following question of law:

“Whether the ‘Explanation’ to Notification No. TT-2-779/XI-9 (226)/94 dated 31.03.1995 (Restrictive Notification) was mandatory to be fulfilled, while applying that Notification to proviso (ii) of Clause 2 of Notification No. TT-2-780/XI-9 (226)/94, dated 31.03.1995 (Exemption Notification)?”

4. In brief, the assessee set up a ‘new unit’ as defined under Section 4- A of the Act. Undi