https://www.taxtmi.com/caselaws?id=63976 A company engaged in re-release of old films and earning receipts from pictures and extra prints was treated as an industrial company because cinematographic film production and processing were regarded as manufacture or processing of goods, and income attributable to that activity exceeded the 51% statutory threshold. Outsourcing the processing work did not change the character of the activity, and temporary suspension of fresh film production did not amount to cessation of industrial status where the overall film production and exploitation business continued. On that basis, the higher industrial company rate applied under the relevant definition. en-us Wed, 24 Mar 1993 00:00:00 +0530 Tue, 22 Feb 2011 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63976 A company engaged in re-release of old films and earning receipts from pictures and extra prints was treated as an industrial company because cinematographic film production and processing were regarded as manufacture or processing of goods, and income attributable to that activity exceeded the 51% statutory threshold. Outsourcing the processing work did not change the character of the activity, and temporary suspension of fresh film production did not amount to cessation of industrial status where the overall film production and exploitation business continued. On that basis, the higher industrial company rate applied under the relevant definition. Case-Laws Income Tax Wed, 24 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63976