https://www.taxtmi.com/caselaws?id=19582 The court held that the assessee-company did not qualify as an investment company based on a single year's income. The Tribunal's decision to consider the company's activities over a longer period was deemed appropriate, leading to the conclusion that the company was not an investment company. Consequently, the additional tax levied under section 104(1) was found inapplicable, with the court ruling in favor of the assessee and ordering no costs. en-us Wed, 09 Nov 1994 00:00:00 +0530 Sat, 07 Nov 2009 11:39:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19582 The court held that the assessee-company did not qualify as an investment company based on a single year's income. The Tribunal's decision to consider the company's activities over a longer period was deemed appropriate, leading to the conclusion that the company was not an investment company. Consequently, the additional tax levied under section 104(1) was found inapplicable, with the court ruling in favor of the assessee and ordering no costs. Case-Laws Income Tax Wed, 09 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19582