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The High Court of Kerala dismissed the petition of a private limited company, engaged in the hotel business, seeking lower tax rate as an industrial company for the assessment year 1979-80. The court upheld the decision that the company did not qualify as an industrial company based on precedents set in earlier cases. The petition was dismissed as the court found no reason to reconsider the decision. (Case Citation: 1987 (6) TMI 16 - KERALA High Court)
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