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2015 (7) TMI 903 - AT - Income TaxEligibility for deduction u/s. 80 IC - whether milk is an item of production eligible for deduction? - CIT(A) allowed claim - Held that:- The word 'production' includes within its purview the word 'manufacture' and also other activities. In view of above decision of Hon'ble Supreme Court in the case of Tara Agencies (2007 (7) TMI 4 - SUPREME COURT OF INDIA ), we hold that "Milk" is an article or thing which can be produced by the assessee and, therefore, we fully concur with the views taken by the Commissioner of Income Tax (Appeals) in holding that "Milk" is an article or thing mentioned in Part-A of Fourteenth Schedule of the Act, and that the profit derived from production of milk is eligible for deduction u/s. 80IC of the Act. - Decided in favour of assessee.
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