M/S. Tata Iron & Steel Co. Ltd vs State Of Jharkhand & Ors

The Supreme Court interpreted notifications Nos. 65, 66 & 67 dated 12th January, 2002, issued under the Jharkhand Industrial Policy, 2001, concerning tax exemptions under Section 7(3)(b) of the Bihar Finance Act, 1981. The Court held that the cold rolled product manufactured by the Appellant is distinct from the hot rolled product, thus entitling the Appellant to the claimed exemptions. The judgment of the Jharkhand High Court was set aside, and the matter was remitted for reconsideration in light of the established distinction between the products.