2007 (7) TMI 692 - HC - Income Tax

Summary

The Delhi High Court ruled in favor of the revenue and against the assessee, stating that the assessee was not an industrial company entitled to be taxed at a concessional rate. The Court referred to the decision of the Supreme Court in CIT v. N.C. Budharaja & Co. [1993] 204 ITR 412. The second question was deemed irrelevant based on the first question's decision.