Commissioner Of Trade Tax, U.P vs M/S. Modipan Fibres Company

The Supreme Court addressed the interpretation of Section 4-A of the U.P. Trade Tax Act, 1948, which empowers the State Government to grant tax exemptions to certain industries. The Court held that the exemptions apply to new units and those undergoing expansion, diversification, or modernization, as specified in Notification No. 1093 dated 27.7.1991. The High Court's decision to set aside the Trade Tax Tribunal's order was upheld, affirming the respondent's entitlement to the tax benefits under the Act.