Delhi HC rules against assessee on concessional tax rates for industrial company

The Delhi HC ruled in favor of the revenue, holding that the assessee was not eligible for concessional tax rates as an industrial company. The Court cited a SC decision and found the second question irrelevant following its ruling on the first issue.

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The Delhi High Court ruled in favor of the revenue and against the assessee, stating that the assessee was not an industrial company entitled to be taxed at a concessional rate. The Court referred to the decision of the Supreme Court in CIT v. N.C. Budharaja & Co. [1993] 204 ITR 412. The second question was deemed irrelevant based on the first question's decision.

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