JUDGMENT

Markandey Katju, J. — This Appeal has been filed against the impugned judgment of the Jharkhand High Court dated 08.8.2005 passed in Writ Petition (Tax) No.3037 of 2004 in Tata Cummins Ltd. vs. State of Jharkhand & Ors..

2. We have heard learned counsel for the parties.

3. The writ petition was filed by the petitioner-appellant seeking a declaration that the petitioner is entitled to avail the benefit of set-off of Sales Tax w.e.f. 1.1.2004 in terms of the Jharkhand Industrial Policy, 2001 read with S.O. Nos.65, 66 and 67 all dated 12.1.2002 issued under the Bihar Finance Act, 1981 with other consequential benefits.

4. To determine the issue, it is necessary to notice the relevant facts, laws, Jharkhand Industrial Policy, 2001 and Circulars/guidelines issued by the respondents from time to time which are as under.

5. The then State of Bihar issued an Industrial Policy in the year 1995, known as "Bihar Industrial Policy, 1995", where under provision was made to grant benefit of exemption of sales tax on purchase of raw materials and on sale of finished goods to industrial units. Two Notifications bearing S.O. No.478 and 479, both dated 22.12.1995 were issued by the then State