https://www.taxtmi.com/caselaws?id=19970 The court determined that the assessee-company, operating a five-star hotel and engaged in processing and selling food and beverages, qualifies as an industrial company under section 2(7)(c) of the Finance Act, 1982. As a result, the company is eligible for a concessional income tax rate of sixty percent instead of the higher rate applicable to non-industrial companies. The court ruled in favor of the assessee on both issues, concluding that the company meets the criteria for an industrial company and is entitled to the lower tax rate. en-us Wed, 22 Sep 1993 00:00:00 +0530 Tue, 10 Nov 2009 18:31:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19970 The court determined that the assessee-company, operating a five-star hotel and engaged in processing and selling food and beverages, qualifies as an industrial company under section 2(7)(c) of the Finance Act, 1982. As a result, the company is eligible for a concessional income tax rate of sixty percent instead of the higher rate applicable to non-industrial companies. The court ruled in favor of the assessee on both issues, concluding that the company meets the criteria for an industrial company and is entitled to the lower tax rate. Case-Laws Income Tax Wed, 22 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19970