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2018 (8) TMI 985 - HC - Income TaxDeduction u/s 10A - eligible activity - Whether the processing of prawns undertaken by the assessee under IQF (Individual Quick Freezing) can be termed to be a manufacture or production - Claim of expenditure/ deduction towards contribution made in the Fishermen's Welfare Fund, which Fund - Fund was declared unconstitutional by the judgment of the Honourable Supreme Court Held that:- Any assessee, who was entitled to the benefit prior to the substitution would be entitled to the benefit under the substituted provision for the unexpired period as per the un-amended provision. - First question decided against the revenue. Contribution to the fund which was held unconstitutional - Held that:- We find that the Honourable Supreme Court while declaring the Fund to be unconstitutional also directed that the amount of contributions already paid will not be liable to be refunded to the contributors. In such circumstances, there is no question of a refund to the assessee and as found by the Tribunal, when the contributions were made, there was a valid fund created. The contribution so made to the Fishermen's Welfare Fund Board having not been refunded as specifically interdicted by the Honourable Supreme Court, the same would also be employed for the welfare of the fishermen. - Decided against the revenue.
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