2012 (9) TMI 552

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..... eading 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 - against assessee. Denial of Investment allowance on mining granite from quarries activities and exporting - cutting, polishing, etc. which does not tantamount to manufacture for the purpose of .....

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..... assessee is entitled to claim deduction to the extent of profits referred to in sub-section 1-B of Section 80HHC of the Income Tax Act, derived from export of goods - in this case, granite, for the Assessment Year 1988-1989?" 2. The above question has been answered against the assessee vide judgement of this Court in the case of Gem Granites v. CIT [2004] 141 Taxman 528. The civil appeal .....

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