https://www.taxtmi.com/caselaws?id=18526 A tea company may qualify as an industrial company even without its own factory if tea is manufactured through a sister concern under its supervision and control. For the 51 per cent. test under the Finance Act definition, income attributable to manufacture or processing must be measured against total income computed under the Income-tax Act, while agricultural income is excluded because it does not form part of total income. On the stated facts, tea manufacturing on the company's behalf amounted to manufacture and processing of goods, supporting entitlement to the lower tax rate available to an industrial company. en-us Wed, 29 May 1996 00:00:00 +0530 Thu, 01 Oct 2009 14:00:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18526 A tea company may qualify as an industrial company even without its own factory if tea is manufactured through a sister concern under its supervision and control. For the 51 per cent. test under the Finance Act definition, income attributable to manufacture or processing must be measured against total income computed under the Income-tax Act, while agricultural income is excluded because it does not form part of total income. On the stated facts, tea manufacturing on the company's behalf amounted to manufacture and processing of goods, supporting entitlement to the lower tax rate available to an industrial company. Case-Laws Income Tax Wed, 29 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18526