https://www.taxtmi.com/caselaws?id=18380 The High Court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue. The Court held that the assessee qualified as an "industrial company" under section 2(7)(c) of the Finance Act, 1978, based on its manufacturing activities involving the sale of manufactured goods and fabrication of trusses. The Court emphasized that the income attribution criteria did not negate the assessee's classification as an industrial company, as long as the primary activities involved manufacturing. The Court distinguished a previous Supreme Court judgment and upheld the Tribunal's findings, supporting the assessee's status as an industrial company. en-us Mon, 13 Feb 1995 00:00:00 +0530 Wed, 30 Sep 2009 15:21:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18380 The High Court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue. The Court held that the assessee qualified as an "industrial company" under section 2(7)(c) of the Finance Act, 1978, based on its manufacturing activities involving the sale of manufactured goods and fabrication of trusses. The Court emphasized that the income attribution criteria did not negate the assessee's classification as an industrial company, as long as the primary activities involved manufacturing. The Court distinguished a previous Supreme Court judgment and upheld the Tribunal's findings, supporting the assessee's status as an industrial company. Case-Laws Income Tax Mon, 13 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18380