Industrial company definition: classification hinges on primary engagement or a year when a majority of income arises from listed industrial activities. The Explanation to section 2(7)(d) treats a company as an industrial company based on listed industrial activities-power generation or distribution, ship construction, manufacture or processing of goods, and mining-and by whether income from those activities constitutes a specified majority of total income; the Board clarified that classification operates either from a company's primary engagement in those activities or from a year in which a majority of its income is derived from them.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Industrial company definition: classification hinges on primary engagement or a year when a majority of income arises from listed industrial activities.
The Explanation to section 2(7)(d) treats a company as an industrial company based on listed industrial activities-power generation or distribution, ship construction, manufacture or processing of goods, and mining-and by whether income from those activities constitutes a specified majority of total income; the Board clarified that classification operates either from a company's primary engagement in those activities or from a year in which a majority of its income is derived from them.
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