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2014 (11) TMI 807 - HC - Income TaxGrant of deduction u/s 80HHA and 80IA – Ship breaking activity amounts to manufacture or not - Whether the Tribunal is right in law and on facts in holding that the assessee which is engaged in ship breaking business is entitled for grant of deduction u/s 80HHA and 80I considering the same as manufacturing activity – Held that:- Following the decision in Vijay Ship Breaking Corporation and Others vs. C.I.T [2008 (10) TMI 6 - SUPREME COURT] – the Tribunal was right in allowing the deduction u/s 80HH & 80I holding that the ship breaking activity gave rise to the production of a distinct & different article - ship breaking activity gave rise to the production of a distinct and different article and the assessee is entitled to deduction u/s 80HH and 80-I – thus, the order of the Tribunal is upheld – Decided against revenue.
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