https://www.taxtmi.com/caselaws?id=162789 Under an industrial incentive scheme granting sales tax deferral, the word "product" was construed broadly because it was not confined to the principal manufactured item. A by-product emerging from the manufacturing process and capable of separate commercial sale was treated as falling within that expression, since a purposive reading of the scheme was required to advance its object of promoting industrial activity in backward areas. On that basis, steel scrap generated during manufacture was covered by "product" and could be considered for deferral benefit. en-us Wed, 13 Sep 2006 00:00:00 +0530 Fri, 14 Mar 2014 12:31:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162789 Under an industrial incentive scheme granting sales tax deferral, the word "product" was construed broadly because it was not confined to the principal manufactured item. A by-product emerging from the manufacturing process and capable of separate commercial sale was treated as falling within that expression, since a purposive reading of the scheme was required to advance its object of promoting industrial activity in backward areas. On that basis, steel scrap generated during manufacture was covered by "product" and could be considered for deferral benefit. Case-Laws VAT and Sales Tax Wed, 13 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162789