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The Government of Jharkhand has declared its Industrial Policy on or about 25.8.2001, the effective date therefor being 15th November, 2000. The said Policy was put in force from 15th November, 2000. The Appellant's cold rolled mill as also hot rolled mill, thus, are existing units within the meaning of the Jharkhand State Policy, in terms whereof if a benefit is granted under one policy, no other benefit would be available.

INDUSTRIAL POLICY  RESTRICTED NEW UNITS ALONE :

The Industrial Policy of State of Jharkhand is a multi-faceted one. As many as 20 strategies have been laid down therein. Emphasis therein has been laid on the infrastructure inter alia having regard to the United Nations Development Programme Co-operation Framework for India Report. The mining and mineral base industries are in the forefront of the identification of thrust areas. With that in view, under the heading "Commercial Tax Reforms", clause 28.1 seeks to grant tax benefits both to new industrial units as also existing units. Even under its notifications dated 12th January, 2002 issued under the provisions of the Bihar Finance Act, facilities of set off both in relation to inter-State and intra-State sale are to be given to new industrial units as also existing units. Thus, despite the fact that the Appellant, as a juristic person is an assessee or a dealer within the meaning of the 1981 Act; and, thus, was required not only to get itself registered as such but also file one single return in respect whereof there may be one order of assessment; but the same, in our opinion, does not prevent an assessee from claiming separate tax exemptions and/ or other tax benefits both in respect of its new industrial units as also its existing units. The Industrial Policy permits the same.