M/S. TATA IRON & STEEL CO. LTD. vs STATE OF JHARKHAND .

The Supreme Court addressed the appeal concerning the applicability of sales tax exemptions under the Bihar Finance Act, specifically Section 7, for a company diversifying its manufacturing operations. The Court held that the decision of the High Power Committee, which classified the appellant's diversification as a new unit eligible for benefits, was valid and binding. The Court remanded the matter for re-examination by the Commissioner of Commercial Taxes to ensure compliance with the established industrial policy and incentives.