https://www.taxtmi.com/caselaws?id=19701 The High Court of Bombay ruled that a private limited company leasing out its manufacturing facilities could not be considered an industrial company under the Finance Act, 1975. Despite owning machinery, the company was not actively involved in manufacturing or processing goods as it had leased its operations to another entity. The court upheld lower authorities' decisions, concluding that the company's leasing arrangement did not meet the criteria for classification as an industrial company. The judgment emphasized the need for active engagement in manufacturing or processing activities to maintain industrial status. en-us Thu, 10 Nov 1994 00:00:00 +0530 Mon, 09 Nov 2009 10:50:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19701 The High Court of Bombay ruled that a private limited company leasing out its manufacturing facilities could not be considered an industrial company under the Finance Act, 1975. Despite owning machinery, the company was not actively involved in manufacturing or processing goods as it had leased its operations to another entity. The court upheld lower authorities' decisions, concluding that the company's leasing arrangement did not meet the criteria for classification as an industrial company. The judgment emphasized the need for active engagement in manufacturing or processing activities to maintain industrial status. Case-Laws Income Tax Thu, 10 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19701