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2015 (10) TMI 1060 - BOMBAY HIGH COURT

2015 (10) TMI 1060 - BOMBAY HIGH COURT - TMI - Entitlement to deduction u/s. 80IB - whether process of galvanizing of H.R. strips/Coils/CR Coils amounts to manufacture/production of article/thing? - Held that:- Revenue appeal dismissed concluding process of galvanizing of H.R. strips/Coils/CR Coils amounts to manufacture/production of article/thing entitling the assessee to deduction u/s. 80IB - See The Commissioner of Income Tax Versus Silvassa Wooden Drums [2012 (4) TMI 593 - BOMBAY HIGH COURT .....

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e business of manufacturing galvanied steel tapes and cold rolled strips. A return of income for the assessment year 200405 was filed declaring total income of ₹ 2,52,191/after claiming deduction of ₹ 78,00,367/under section 80IB of the Income Tax Act, 1961. The claim for this deduction was rejected by the Assessing Officer on 21st December, 2009. The matter was carried in Appeal by the Assessee before the Commissioner and the Commissioner allowed the Appeal of the Assessee by his or .....

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partment of Defence, Indian Railways etc. Thus, the Tribunal seems to have had a doubt whether this process amounts to manufacture, however, in the light of the authoritative pronouncement of this Court and in the case of the very Assessee that the deduction under section 80IB of the Income Tax Act, 1961 was granted. The Tribunal's earlier order has been followed by the Commissioner. 3) When the matter was brought before the Tribunal in Appeal by the Revenue, the Tribunal followed this Court .....

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