Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (1) TMI 743 - HC - Income TaxExemption from payment of tax under section 10B - 100% EOU - Scope of term 'Manufacture' - exemption denied on the ground that products exported were not produced or manufactured in the industrial unit of the assessee's 100 per cent Export Oriented Unit - Held that:- the purpose of incorporation of section 2(r) of the Special Economic Zones Act, 2005 into section 10AA of the Income-tax Act is to provide a liberal meaning to the word "manufacture" which takes in even blending, refrigeration etc. It was noticed by this court that the definitions of "manufacture" contained in the above definition clauses are very liberal which takes in even processing like blending. - Free Trade Zones and to 100 per cent Export Oriented Units covered by sections 10, 10AA and 10B of the Income-tax Act. Therefore, following the judgment of this court in Girnar Industries v. CIT (2009 -TMI - 78306 - KERALA HIGH COURT) we hold that assessee is entitled to exemption on the profit derived by its 100 per cent Export Oriented Unit engaged in blending, packing and export of tea bags and tea packets.
|