TMI Blog2002 (6) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in the circumstances of the appellant's case, the Income-tax Appellate Tribunal was right in law in holding that the definition of 'industrial company' in section 2(7)(c) of the Finance Act, 1978, did not cover the activities of the appellant for the purpose of determining the rate at which the appellant was liable to income-tax?" The first question is answered against the assessee and in favou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the activities of the appellant for the purpose of determining the rate at which the appellant was liable to income-tax?" The assessee appears to be an engineering company called, The Coromandel Engineering Co. Ltd. The relevant assessment year is 1975-76. It claimed to be taxed at the lower rate of tax on the ground that it is an industrial company. All the lower authorities have recorded a f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucting buildings and was not engaged in any manufacturing activity or for that, any business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining and therefore it could not be said that it was an industrial company. As to what is an industrial company has now been settled by the apex court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Act." Their Lordships held that the burden to prove that the assessee is such a company lies on the assessee itself. We find that no material has been produced before us also to suggest that the inference on the facts drawn by the Appellate Tribunal is in any manner erroneous. We do not find any reason to interfere with the order passed by the Appellate Tribunal. Once it is held that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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