https://www.taxtmi.com/caselaws?id=28797 The High Court of Gujarat ruled in favor of a private limited company engaged in ginning and pressing of cotton for the assessment years 1973-74 and 1974-75. The Court determined that the company qualifies as an "industrial company" under the Finance Act based on its activities of processing cotton into bales. The Tribunal's decision was upheld, rejecting the Revenue's appeal. The Court clarified that ginning constitutes manufacturing and pressing qualifies as processing of goods, aligning with precedent decisions. The references were answered affirmatively, with no costs imposed. en-us Wed, 30 Jun 1982 00:00:00 +0530 Thu, 25 Feb 2010 17:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28797 The High Court of Gujarat ruled in favor of a private limited company engaged in ginning and pressing of cotton for the assessment years 1973-74 and 1974-75. The Court determined that the company qualifies as an "industrial company" under the Finance Act based on its activities of processing cotton into bales. The Tribunal's decision was upheld, rejecting the Revenue's appeal. The Court clarified that ginning constitutes manufacturing and pressing qualifies as processing of goods, aligning with precedent decisions. The references were answered affirmatively, with no costs imposed. Case-Laws Income Tax Wed, 30 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28797