Law:

Section:

[2008] 306 ITR 159 (DELHI) HIGH COURT OF DELHI Bhai Sunder Dass Sardar Singh (P.) Ltd. v. Commissioner of Income-tax MADAN B. LOKUR AND DR. S. MURALIDHAR, JJ. I.T. REFERENCE Nos. 81 AND 82 OF 1985 AUGUST 27, 2007 Section 2(7)(c) of the Finance Act 1979 - Industrial company Industrial company Where the activity carried on by the petitioner was processing and cooking of raw food for the purposes of sale to its customers in the restaurant, it did not amount to manufacturing and, therefore, the assessee could not claim the status of an industrial company. Hardipender Singh for the Applicant. Ms. Rashmi Chopra for the Respondent. JUDGMENT(ORAL JUDGMENT) Madan B. Lokur, J.-The following question of law has been referred to us by the Income-tax Appellate Tribunal ("the Tribunal*) for our opinion under section 256(1) of the Income-tax Act, 1961 ("the Act"), for the assessment years 1978-79 and 1979-80 : "Whether, on the facts and in the circumstances of the case, the assessee-company was an 'industrial company' as defined in the Finance Act, 1978/Finance Act, 1979 ?" 2. The assessee is running a restaurant under the name and style of "President Hotel". The assessee is processing raw food and the cooked food is sold to its customers. On this basis the assessee claims that it is an industrial company as defined in the Finance Acts, 1978/1979 and, therefore, it is required to pay a lesser rate of tax. 3. In one of the assessment years, the assessee did not raise this issue before the Assessing Officer. However, it was raised before the Commissioner of Income-tax (Appeals). For the other assessment year the assessee had raised this issue before the Assessing Officer. Be that as it may, the assessee had raised this issue before the Revenue authorities at one time or the other and they have decided the issue against the assessee. 4. The assessee preferred an appeal before the Tribunal which also came to the conclusion that the assessee is not entitled to the status of an industrial company as defined in the Finance Act 1978/1979 for the relevant assessment year and, therefore, is not entitled to a concessional rate of tax. 5. Our attention has been drawn to Indian Hotels Co.…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492