1986 (2) TMI 78 - AT - Income Tax

Summary

The appeal was filed as the CIT(A) held the appellant as non-industrial undertaking. The assessee, a building contractor, was engaged in mining operations by removing overburden to expose lignite mineral. The definition of 'industrial company' includes mining, so the assessee is entitled to be called an "industrial company." The appeal is allowed, and the matter is sent back to the ITO for tax recalculation.