https://www.taxtmi.com/circulars?id=10127 An industrial company qualifies for a concessional tax rate if income from specified activities (power generation, ship construction, manufacture/processing, or mining) is at least 51% of total income measured before any deductions under Chapter VIA. The Board has directed that the majority-income test must be applied to pre-deduction total income, correcting instances where officers had applied the test after Chapter VIA deductions. en-us Fri, 28 Dec 1973 00:00:00 +0530 Fri, 17 Jun 2011 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10127 An industrial company qualifies for a concessional tax rate if income from specified activities (power generation, ship construction, manufacture/processing, or mining) is at least 51% of total income measured before any deductions under Chapter VIA. The Board has directed that the majority-income test must be applied to pre-deduction total income, correcting instances where officers had applied the test after Chapter VIA deductions. Circulars Income Tax Fri, 28 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10127