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2020 (1) TMI 871 - HC - Income TaxProduction activity for the purpose of 80H, 80I and 80IA - bottling of the gas into gas cylinders - whether no new production comes into existence in this process ? - HELD THAT:- Decision of the Supreme Court in the case of Commissioner of Income Tax vs. Hindustan Petroleum Corporation Ltd [2017 (8) TMI 197 - SUPREME COURT] is placed on record. It is a common ground that in view of this dicta of the Supreme Court, the substantial questions of law as framed will have to be answered against the Appellant – Revenue. Disallowance u/s 14A - rule 8D applicability - HELD THAT:- As we proceed on the basis that principle laid down under Rule 8D of the Income Tax Rules, 1962 ought to have taken into consideration and applied in the case of the Respondent – Assessee. The Assessment Year in question is 2003-04. The Rule 8D is held to applicable from the assessment years 2008-09 in the case of M/S. ESSAR TELEHOLDINGS LTD. THROUGH ITS MANAGER [2018 (2) TMI 115 - SUPREME COURT] - No substantial questions of law.
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