1995 (3) TMI 173

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..... s appeal is as under: "On the facts and in the circumstances of the case, the learned CIT(A) has erred in holding that assessee company is an industrial company and entitled to concessional rate of tax ignoring the fact that assessee-company was engaged in trading activity and not in any manufacturing activity as established by the Assessing Officer more particularly the assessee has been issuin .....

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..... fore, in the opinion of the AO, revealed that trading activity was predominant during the year and hence treated the assessee as a trading company for the purpose of taxation. 3. The learned CIT(A), however, after scrutinising the factual position in detail, gave a finding that the assessee has manufactured metalizing equipments of various models in its own factory. He also gave a finding to the .....

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..... ers Pvt. Ltd. vs. ITO (1989) Taxation 95(4)-153, wherein it was held that even if all the components are purchased and then assembled to give a different product, the assessee would be treated as an industrial company. 5. In the instant case the assembling activity carried out by the assessee is not disputed at all. The observation of the AO that each component utilised by the assessee is capabl .....

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