https://www.taxtmi.com/caselaws?id=63699 The Tribunal upheld the CIT(A)'s decision to apply a concessional tax rate of 55 percent to the assessee, a PVC shoes manufacturing company, for the assessment year 1982-83. Despite the Revenue's argument that the company did not qualify as an industrial company due to less than 51 percent manufacturing income, the Tribunal found the company's manufacturing activities predominant, not relying on legal fiction. As a result, the appeal against the CIT(A)'s order, allowing the lower tax rate under section 154, was dismissed. en-us Fri, 03 Aug 1990 00:00:00 +0530 Tue, 22 Feb 2011 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63699 The Tribunal upheld the CIT(A)'s decision to apply a concessional tax rate of 55 percent to the assessee, a PVC shoes manufacturing company, for the assessment year 1982-83. Despite the Revenue's argument that the company did not qualify as an industrial company due to less than 51 percent manufacturing income, the Tribunal found the company's manufacturing activities predominant, not relying on legal fiction. As a result, the appeal against the CIT(A)'s order, allowing the lower tax rate under section 154, was dismissed. Case-Laws Income Tax Fri, 03 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63699