Small-scale industrial undertaking classification determines eligibility for certain Income Tax Act incentives under specified tax provisions. An undertaking qualifies as a Small-scale Industrial Undertaking for the referenced income tax provision only if, on the last day of the previous year, it is regarded as such under the Industries (Development and Regulation) Act, 1951, thereby tying tax eligibility to the Industries Act classification as of that snapshot date.
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Provisions expressly mentioned in the judgment/order text.
Small-scale industrial undertaking classification determines eligibility for certain Income Tax Act incentives under specified tax provisions.
An undertaking qualifies as a Small-scale Industrial Undertaking for the referenced income tax provision only if, on the last day of the previous year, it is regarded as such under the Industries (Development and Regulation) Act, 1951, thereby tying tax eligibility to the Industries Act classification as of that snapshot date.
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