2004 (11) TMI 13 - SUPREME COURT

Appellant exports granite. According to the appellant, the granite is cut and polished before export. The appellant claims deduction u/s 80HHC in respect of profits from its export business - HC has clearly proceeded on a misreading of the 1984 circular by holding that the circular expressly provided that polished and processed granite did not fall within the meaning of word "minerals" in 80HHC(2)(b) as it stood before 1991- decision of the HC is set aside - revenue's appeal is allowed