2009 (8) TMI 8

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.... Mr. Akshay Bhan, Advocate for respondent. ORDER 1. The Income Tax Appellate Tribunal, Chandigarh has referred following question of law for opinion of this Court, arising out of its order dated 15.5.1996 in I.T.A No.1386/Chandi/90 relating to assessment year 1985-86:- "Whether, on the facts and in the circumstances of the case, the ITAT was right in law in holding that the assessee be tr....

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....ing and non-investment company: the lessor rate for manufacturing company or industrial company is to encourage the industrial activity and investment by a company in a firm which is involved in a manufacturing process satisfies the object of lessor rate. Therefore, following the Delhi High Court decision it is held that this company gets major part of its income from a manufacturing activity and ....