https://www.taxtmi.com/caselaws?id=15253 The court ruled in favor of the assessee, emphasizing that a company engaged in construction and manufacturing activities can be considered an industrial company under the Finance (No. 2) Act, 1977 if it meets the 51% income threshold from manufacturing. Discrepancies in the Commissioner's reasoning led to a fresh assessment being ordered, focusing on evidence of manufacturing income. The court highlighted the need for factual evidence and directed the Assessing Officer to conduct a new assessment within six months to determine the industrial company status based on income sources. en-us Mon, 03 Aug 1998 00:00:00 +0530 Tue, 04 Aug 2009 12:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15253 The court ruled in favor of the assessee, emphasizing that a company engaged in construction and manufacturing activities can be considered an industrial company under the Finance (No. 2) Act, 1977 if it meets the 51% income threshold from manufacturing. Discrepancies in the Commissioner's reasoning led to a fresh assessment being ordered, focusing on evidence of manufacturing income. The court highlighted the need for factual evidence and directed the Assessing Officer to conduct a new assessment within six months to determine the industrial company status based on income sources. Case-Laws Income Tax Mon, 03 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15253