Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 837 - GUJARAT HIGH COURTDeduction under Section 80HH and 80I - process of texturising of yarn - manufacturing activity or not - Held that:- applying the ratio/law laid down by Hon’ble the Supreme Court in the case of Yashasvi Yarn Ltd. (2012 (9) TMI 480 - SUPREME COURT) and in the case of Emptee Poly-Yarn P. Ltd. (2010 (1) TMI 18 - SUPREME COURT OF INDIA), the question formulated/raised in the present Tax Appeals is answered in favour of the assessee and consequently the impugned common order is hereby quashed and set aside and it is held that the assessee shall be entitled to the deduction under Section 80HH and 80I of the Income Tax Act by holding that the process of twisting and texturising of partially oriented yarn amounts to manufacture in terms of Section 80IA of the Income Tax Act. - Decided in favor of assessee.
|