State Of Jharkhand & Ors vs Tata Steel Ltd & Ors

The Supreme Court ruled that M/s. Tata Steel Limited is entitled to sales tax exemption under the Bihar Finance Act, 1981, despite the establishment of a new state, Jharkhand, following the Bihar Reorganisation Act, 2000. The Court held that the cold-rolled products manufactured by Tata Steel are distinct from the hot-rolled products, thus qualifying for the exemption as per the industrial policy formulated under Section 23A of the 1981 Act. The judgment affirmed the validity of the exemption certificate issued by the Jharkhand government, emphasizing the importance of the policy in promoting industrial growth.