https://www.taxtmi.com/caselaws?id=164240 An industrial unit was held entitled to purchase tax exemption on raw materials used to manufacture finished goods in Bihar, even though part of the finished products was transferred by stock transfer. The Industrial Incentive Policy, 1993 was construed liberally to promote industrial growth, and paragraphs 10.4 and 10.5 were found not to require sales only within Bihar. A notification under section 7 of the Bihar Finance Act could not add a restriction absent from the policy, and the exemption under section 7(3) could not be curtailed by implying an outside-State sales bar. Promissory estoppel also supported the assessee because it had acted on the policy incentive. en-us Wed, 09 Sep 2009 00:00:00 +0530 Sat, 01 Nov 2014 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164240 An industrial unit was held entitled to purchase tax exemption on raw materials used to manufacture finished goods in Bihar, even though part of the finished products was transferred by stock transfer. The Industrial Incentive Policy, 1993 was construed liberally to promote industrial growth, and paragraphs 10.4 and 10.5 were found not to require sales only within Bihar. A notification under section 7 of the Bihar Finance Act could not add a restriction absent from the policy, and the exemption under section 7(3) could not be curtailed by implying an outside-State sales bar. Promissory estoppel also supported the assessee because it had acted on the policy incentive. Case-Laws VAT and Sales Tax Wed, 09 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164240