https://www.taxtmi.com/caselaws?id=303204 The Supreme Court construed the Schedule expression "paper and pulp" broadly for industrial tax incentive purposes and held that strawboard fell within that industry. It relied on the industrial licence, the inclusion of strawboard and paperboard in the relevant industrial classification, and the similarity of the manufacturing process to paper production. Applying the rule that tax incentive provisions for industrial development receive a liberal construction, the Court upheld the Revenue's position and denied the assessee concessional tax treatment and relief under section 80-E. en-us Fri, 28 Apr 1989 00:00:00 +0530 Fri, 08 Jul 2022 13:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303204 The Supreme Court construed the Schedule expression "paper and pulp" broadly for industrial tax incentive purposes and held that strawboard fell within that industry. It relied on the industrial licence, the inclusion of strawboard and paperboard in the relevant industrial classification, and the similarity of the manufacturing process to paper production. Applying the rule that tax incentive provisions for industrial development receive a liberal construction, the Court upheld the Revenue's position and denied the assessee concessional tax treatment and relief under section 80-E. Case-Laws Income Tax Fri, 28 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303204