As stated, the assessee appellant purchased chillies.
It is companymon ground that theappellant got the chillies fumigated by M s. Mysodet Pvt.
Inthis batch of appeals, the appellant assails the reasoning and companyclusion of the High Courtcontained in its judgment dated 8.12.1977 relating to the assessment year 1971 72 115 ITR 73 as incorrect and unsustainable.
We heard companynsel.
The only question that arisesfor companysideration is whether the appellant is an industrial companypany as defined in therespective Finance Acts and can therefore be taxed only at 55?
The asessee, a public limitedcompany, is carrying onthe business ofsale and purchase ofchillies.
the total income as does number exceed Rs.2,00,000 emphasis supplied The basicfacts relevantto all the three appeals are number indispute.
998 of 1982 and relates to theassessment year 1976 77 Judgment of the High Court vs reported in220 ITR 411 .
469 of1978 ReferenceNo.
Civil AppealNo.
Ltd., Bangalore by paying charges therefor under a companytract .
Chillies are exportedto USSR, USA and Ceylon.
Civil Appeal No.15346 of1996 is preferred against the judgment ofthe same High Court dated 27.6.1996 in TaxCase Reference No.
289of 1978 and relates to theassessment year 1974 75.
The revenue is the respondentin all the appeals.
The question that arises for companysideration is whether the appellant assessee is anindustrial companypany withinthe meaning of the Finance Acts aforesaid hereinafter referred to as the Act and the tax should be levied at the companycessional rate of 55only.
Commissioner of Income Tax 201 ITR 588 .
Better quality chillieswere picked up and sorted out for export and before exportthey were clipped and stemmed and subjected to fumigation under expert technical hands in orderto prevent deterioration and with aview togive better polish and appearance and during that process they were treated withe methyl bromide.
They weresorted and graded as per Agmark specifications.
3637 of1983 is filedagainst the judgment of the Madras High Court dated 18.12.1981 in Tax Case No.
Appellants companynsel Vehemently companytended thatthe decision of the High Courtrendered for the assessment year 1971 72 115 ITR 73 did number companysider in an appropriateperspective the requirement ofthe relevant provisions of the Finance Act or the meaning to be given to the word processing of goods.
8017 of 1995 is preferred against thejudgment of the sameHigh Court dated 4.4.1995 inTax Case No.
When the matter came upfor companysideration in subsequent years 1974 75,1976 77 and1977 78, the earlier decisionrendered for the assessment year 1971 72 115ITR 73 was followed without discussion.
The appellant is thesame firm in all the threeappeals.
Civil Appeal No.
JU D G ME N T Paripoornan, J. Anidentical question oflaw arises for companysideration in this batch of three appeals.
The appellant assesseeis a public limitedcompanycarrying on inter aliathe business of exporting chillies to United Statesof America, USSR and Ceylon.
to companyvert into marketableform as live stock by slaughtering, grain bymilling, companyton by spinning, milk by pasteurising, fruits and Vegetables bysorting and repacking.
