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2015 (8) TMI 520 - SCH - Income TaxDisallowance of legal claim of deduction u/s 80-P(2)(a)(iii) wherein the appellant having inadvertently claimed deduction only u/s 80-P(2)(d) - As decided by HC [2012 (5) TMI 180 - PUNJAB AND HARYANA HIGH COURT] since appellant-sugar mill is engaged in marketing of agricultural produce of its members, it is entitled for the exemption as provided under Section 80-P (2) (a) (iii) - Held that:- In view of the order passed in Morinda Co-operative Sugar Mills Ltd. v. CIT [2012 (9) TMI 847 - SUPREME COURT ] if an operation/process renders a commodity or article fit for use for which it is otherwise not fit, the operation/process falls within the meaning of the word `manufacture' the matter is remanded to the file of the Commissioner of Income-tax (Appeals). Taxability of the extra money collected against levy of sugar in view of the incentive scheme of the Govt. – Held that:- Grant was not for the purpose of bringing into existence new assets but was for the purpose of making payment to the sugarcane growers thus same shall be treated as capital receipt - the assessee is entitled to raise the contention before the Commissioner that in so far as the second issue is concerned, it is covered in his favour by the decision of this court in CIT v. Ponni Sugars and Chemicals Ltd. [2008 - TMI - 30719 - SUPREME COURT] wherein held that the payment received by the assessee under the Scheme was not in the course of a trade but was of capital nature
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