Judgment

S.B. SINHA, J. - Leave granted.

2. These two appeals, involving common questions of fact and law, were taken up for hearing together and are being disposed of by this common judgment.

3. We will, however, notice the fact of the matter from M/s Victory Papers and Boards India Ltd. case.

4. The State of Kerala adopted an industrial policy in the year 1992 and in the light thereof a notification bearing number GOMs No. 4/92/PD dated 6 - 2 - 1992, was issued, which reads as under:

"ORDER

In the light of the Statement of Industrial Policy approved for implementation by the Government the following incentives in respect of electricity are ordered:

1. New industrial units will be exempted for 5 years from payment of enhanced power tariff which came into effect on 1 - 1 - 1992. This concession will be available

(i) to new units from the date of commercial production, which start such production between 1 - 1 - 1992 and 31 - 12 - 1996;

(ii) to manufacturing units only and not to service and entertainment units;

(iii) to existing units for substantial expansion/modernization/diversification. The concession in such cases will be available only for the consumption of the new machinery