https://www.taxtmi.com/caselaws?id=23376 The High Court of Kerala ruled in favor of the assessee, determining that they qualified as an industrial company under section 2(6)(c) of the Finance Act, 1972. Despite the Income-tax Officer's initial assessment that the assessee did not conduct a significant portion of processing work themselves, the Appellate Assistant Commissioner and Tribunal found that the processing of raw cashew nuts by the assessee, even through outside agencies, constituted an industrial activity. The Court emphasized that the direct payment of processing charges to outside agencies demonstrated substantial engagement in processing activities, aligning with the definition of an industrial company. en-us Tue, 25 Feb 1986 00:00:00 +0530 Fri, 18 Dec 2009 17:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23376 The High Court of Kerala ruled in favor of the assessee, determining that they qualified as an industrial company under section 2(6)(c) of the Finance Act, 1972. Despite the Income-tax Officer's initial assessment that the assessee did not conduct a significant portion of processing work themselves, the Appellate Assistant Commissioner and Tribunal found that the processing of raw cashew nuts by the assessee, even through outside agencies, constituted an industrial activity. The Court emphasized that the direct payment of processing charges to outside agencies demonstrated substantial engagement in processing activities, aligning with the definition of an industrial company. Case-Laws Income Tax Tue, 25 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23376