Section 3(5) of TNGST 1959 Act: Tax Concessions to Promote Industrial Growth Should Be Interpreted Liberally.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....TNGST 1959 - Section 3(5) of the Act is a beneficial provision. It provides for concession in tax to encourage industrial activity. It is well settled principle that a taxing provision, granting concessional and incentives for promoting growth and development, should be construed liberally - HC....