https://www.taxtmi.com/caselaws?id=15024 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and determining that it qualified as an industrial company under the Finance Act, 1979. The court emphasized the distinction between manufacturing and processing of goods, concluding that the assessee's dyeing activity constituted processing, making it eligible for the lower tax rate applicable to industrial companies. The judgment highlighted the importance of the assessee's role in overseeing the manufacturing process, ultimately affirming its classification as an industrial company engaged in the manufacture of goods. en-us Tue, 04 Feb 1997 00:00:00 +0530 Mon, 27 Jul 2009 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15024 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and determining that it qualified as an industrial company under the Finance Act, 1979. The court emphasized the distinction between manufacturing and processing of goods, concluding that the assessee's dyeing activity constituted processing, making it eligible for the lower tax rate applicable to industrial companies. The judgment highlighted the importance of the assessee's role in overseeing the manufacturing process, ultimately affirming its classification as an industrial company engaged in the manufacture of goods. Case-Laws Income Tax Tue, 04 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15024