2008 (5) TMI 140

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e respondent. JUDGMENT The judgment of the court was delivered by Rajive Bhalla, J.(Oral)- 1. The assessee is a private limited company receiving share income from the firm M/s Munjal Castings, out of the total income assessed at Rs.3,65,601/- for assessment year 1984-85, share from the aforesaid firm was of the order of Rs.3,17,001/-. The assessee claimed the status of industrial company....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....based on the ratio laid down by the Delhi High Court in the case of Bharat Ram Charat Ram (P) Ltd. (supra). 4. On the application filed by the revenue, the Tribunal vide its order dated 28.12.1993 passed in RA No.34/Chandi/1993 arising out of ITA No.1023/Chandi/1988 for the assessment year 1984-85 has referred the following question of law said to be arising out of the Tribunal's order dated 23....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....neration or distribution of electricity or any other form of power or in the carriage, by road or inland waterways, of passengers or goods or in the construction of ships or in the execution of projects or in the manufacture of process of goods or in mining." Explanation: For the purpose of this clause (i) a company shall be deemed to be mainly engaged in the business of generation or distribut....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....i High Court in the case of Commissioner of Income-Tax, Delhi-I v. Bharat Ram Charat Ram P. Ltd. 157 ITR 199, wherein the assessee who was having more than 51 % of income from the partnership which was concerned with the manufacture of super-enamelled copper wire, held that the income derived by the assessee from the said partnership qualifies the assessee and deemed it to be an industrial company....