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of <h1>Book Publishers Qualify as Industrial Companies u/s 104 for Tax Benefits, Says Central Board of Direct Taxes.</h1> The Central Board of Direct Taxes issued a circular addressing whether book publishing companies qualify as industrial companies under section 104 of the Income-tax Act, 1961. It references decisions by the Madras and Calcutta High Courts, which concluded that book publishing involves processing goods and does not require ownership of a printing press. Based on these rulings, the Board decided that book publishing companies, even if not directly involved in printing or binding, are considered industrial companies and eligible for concessional tax treatment. Commissioners are instructed to inform relevant officers of this decision.
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