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2014 (12) TMI 104 - ANDHRA PRADESH HIGH COURTDeduction u/s 80HH and 80I – Held that:- What becomes entitled to claim exemption u/s 80HH of the Act, is an industrial undertaking, as is evident from the very heading of the Section, than the nature of activity taken up by it - once the assessee answers the description of an industrial undertaking, it is immaterial whether it is manufacturing, or producing or processing - The amount that qualifies for deductions is the profits and gains of such an undertaking to the extent of 20% - Things would have been different altogether, had the deduction been restricted only to the activity of manufacturing - the activity was not restricted to the one of multiplying the yarns that were already produced by someone else - the respondent has been manufacturing yarn, from cops, and then, multiplying the yarns, depending upon the customer demand – there is no ground to interfere in the order of the Tribunal – Decided against revenue.
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