https://www.taxtmi.com/caselaws?id=58145 For purposes of section 2(7)(d) of the Finance Act, 1966, ordinary construction activity does not fall within the definition of an "industrial company" unless the statutory conditions are otherwise met. The Tribunal applied the governing Bombay High Court interpretation, which distinguished construction from manufacture or processing and treated construction, other than ship construction, as outside the definition. Authorities cited on different statutory wording were not treated as controlling. The assessee, a construction contractor, therefore did not qualify for the lower rate reserved for an industrial company, and the assessments were sustained on that basis. en-us Mon, 21 Mar 1983 00:00:00 +0530 Fri, 17 Dec 2010 15:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58145 For purposes of section 2(7)(d) of the Finance Act, 1966, ordinary construction activity does not fall within the definition of an "industrial company" unless the statutory conditions are otherwise met. The Tribunal applied the governing Bombay High Court interpretation, which distinguished construction from manufacture or processing and treated construction, other than ship construction, as outside the definition. Authorities cited on different statutory wording were not treated as controlling. The assessee, a construction contractor, therefore did not qualify for the lower rate reserved for an industrial company, and the assessments were sustained on that basis. Case-Laws Income Tax Mon, 21 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58145