https://www.taxtmi.com/caselaws?id=28445 The High Court of Madras determined that the assessee, a company operating hotels, did not qualify as an industrial company under the Finance Act, 1966. The court held that the hotel business, including food preparation, did not constitute manufacturing or processing of goods as defined by the Act. Relying on the distinction between manufacturing and trading activities, the court ruled in favor of the Revenue, denying the assessee's classification as an industrial company. The judgment underscores the importance of interpreting statutory terms within their legislative context and clarified the scope of 'manufacturing or processing of goods' under the Finance Act. en-us Wed, 27 Apr 1983 00:00:00 +0530 Mon, 22 Feb 2010 17:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28445 The High Court of Madras determined that the assessee, a company operating hotels, did not qualify as an industrial company under the Finance Act, 1966. The court held that the hotel business, including food preparation, did not constitute manufacturing or processing of goods as defined by the Act. Relying on the distinction between manufacturing and trading activities, the court ruled in favor of the Revenue, denying the assessee's classification as an industrial company. The judgment underscores the importance of interpreting statutory terms within their legislative context and clarified the scope of 'manufacturing or processing of goods' under the Finance Act. Case-Laws Income Tax Wed, 27 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28445