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2012 (1) TMI 232 - AT - Income TaxDenial of deduction u/s 80-IB - manufacturing - Held that:- When the coordinate bench of the Tribunal in the case of Sheetal Diamonds Ltd. (2011 (3) TMI 1044 - ITAT, MUMBAI ) has held that cutting and polishing of diamonds amounts to manufacture and deduction should be allowed, there is no reason to deny deduction under similar circumstances. As such we overturn the impugned order on this issue and order for the granting of deduction u/s 80-IB in all the years in question.
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