Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (8) TMI 355 - AT - Income TaxDeduction under section 80IC - leather products - Leather waist belts - process of edge cutting, hole punching, hot pressing embossing and fixing of buckle - Supreme Court in the case of CIT v. Emptee Poly-Yarn (P.) Ltd. [2010 -TMI - 35228] and CIT v. Oracle Software India Ltd. [2010 -TMI - 35190] has held that The duplicating process changes the basic character of a blank CD, dedicating it to a specific use. Without such processing, blank CDs would be unfit for their intended purpose. Therefore, processing of blank CDs would be unfit for their intended purposes. Therefore, processing of blank CDs dedicating them to a specific use, constitutes a manufacture in terms of section 80-IA(12) read with section 33B of the Income-tax Act. Held that: The assessee was carrying out the manufacturing activities by producing “Leather waist belts” from the raw material used as leather strips and buckles by using machinery and man work. The assessee is entitled for deduction under section 80-IC. The appeal of the assessee is allowed on this count.
|