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2012 (12) TMI 492 - HC - Income TaxIndustrial company / undertaking - Additional tax u/s 104 - ITAT concluded that the assessee was not an Industrial Company and, therefore, liable for additional tax under Section 104 of the Income Tax Act, 1961? - held that:- a Company engaged in any construction activities cannot be regarded as having undertaken any manufacturing or processing activity for production of any goods or articles. Though the issue was examined in relation to Section 32-A, 80-HH and 84 of the Act yet the same has full application to the facts of the case in hand. - Decision in the case of M/s. N.C. Budharaja (1993 (9) TMI 6 - SUPREME COURT) followed. Assessee was not engaged in any manufacturing or/and processing activity and hence was not eligible to claim the status of an industrial company and in consequence was not eligible to claim the benefits earmarked for industrial companies under the Act. - Decided against the assessee.
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