https://www.taxtmi.com/caselaws?id=35964 The court, comprising Judge S. S. Sharma and K. N. Shukla, held that the business of manufacturing 'straw-board' qualifies as a priority industry under item No. 16 of the Vth Schedule to the Income-tax Act, 1961. The Appellate Tribunal's decision in favor of the assessee was upheld, entitling them to benefits under the Act for the relevant assessment years. The court emphasized the inclusive nature of the definition and the similarity between the manufacturing processes of straw-board and paper. Each party was directed to bear its own expenses, and no costs were awarded. en-us Thu, 19 Mar 1981 00:00:00 +0530 Thu, 18 Mar 2010 12:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35964 The court, comprising Judge S. S. Sharma and K. N. Shukla, held that the business of manufacturing 'straw-board' qualifies as a priority industry under item No. 16 of the Vth Schedule to the Income-tax Act, 1961. The Appellate Tribunal's decision in favor of the assessee was upheld, entitling them to benefits under the Act for the relevant assessment years. The court emphasized the inclusive nature of the definition and the similarity between the manufacturing processes of straw-board and paper. Each party was directed to bear its own expenses, and no costs were awarded. Case-Laws Income Tax Thu, 19 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35964