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2008 (5) TMI 144 - PUNJAB AND HARYANA HIGH COURTWhether on the facts and in the circumstances of the case, the Income-Tax Appellate Tribunal was right in law in holding that the assessee be treated as an “Industrial Company” u/s 2(8)(C) and that the tax be charged at low rate applicable to an Industrial Company – Held, yes – AO was not justified in rejecting the assessee’s claim and charging tax at a higher rate of 65% - question of law as referred by the Tribunal is answered against the revenue
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