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2004 (3) TMI 40 - HC - Income Tax"Whether, Tribunal is right in law in holding that the assessee is an industrial company within the meaning of section 2(7)(c) of the Finance Act, 1982, and hence entitled to the benefit claimed?" - finding given by the Tribunal that the assessee is engaged in mining is a finding based on the facts - The depth of the earth which is required to be excavated by the assessee ranges from 8 to 30 metres which is required to be done so as to expose the lignite mineral for "further mining" by the GMDC. The entire earth excavation work which is to be done by the assessee is required to be done as prescribed under the mining rules/regulations and is to be carried out under the instructions issued from time to time by the mines manager/engineer-in-charge of the GMDC – Thus, assessee has satisfactorily discharged the burden of showing that it is a company which is mainly engaged in mining and, therefore, an 'industrial company' as defined by section 2(7)(c) and hence entitled to the benefit claimed
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