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2013 (2) TMI 150 - HC - Income TaxReopening of assessment - deduction under Section 80HHC allowed by ITAT - Held that:- The contention of the Revenue is governed by the decision of Gem Granites vs. Commissioner of Income Tax [2004 (11) TMI 13 - SUPREME COURT] wherein held that the cut and polished granite would also be a mineral and export thereof would not qualify for the special deduction under the un-amended Section 80HHC (2)(b). And that every statute is prima facie prospective, unless it is expressly or by necessary implication made to have retrospective operation - against assessee. Invalid deduction u/s 80I granted by ITAT - Held that:- Considering the ratio of decision of n Aspinwall and Co. Ltd., v. CIT [2001 (9) TMI 3 - SUPREME COURT] and considering the order passed by the ITAT there is no evidence to come to a definite conclusion as to whether the assessee is doing manufacturing activity or not, thus it is appropriate to remand the matter to the AO for the purpose of eliciting and proving the same.
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