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2015 (9) TMI 1404 - ITAT AHMEDABAD

2015 (9) TMI 1404 - ITAT AHMEDABAD - TMI - Income from scrap sales - eligibility for section 80IB deduction - Held that:- Income arising from sale of scrap is eligible for section 80IB deduction as derived from the manufacturing activity in question. The hon’ble jurisdictional high court in Harjivandas Zaveri case (1999 (12) TMI 5 - GUJARAT High Court ) has adjudicated this very substantial question in asssesee’s favour - Decided against revenue

Sec. 80IB disallowance qua income from .....

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D. Agrawal, Vice President and Shri S. S. Godara, Judicial Member Appellant by: Shri Vilas Shinde, Sr. D.R. Respondent by: Shri Manish J. Shah, A.R. ORDER PER : S. S. GODARA, JUDICIAL MEMBER:- This Revenue s appeal for A.Y. 2008-09, arises from order of the CIT(A) Valsad dated 27-01-2011 in appeal no. CIT(A)/VLS/10-11 in proceedings under section 143(3) of the Income Tax Act, 1961; in short the Act . 2. The Revenue s first substantive ground challenges the CIT(A) s order holding assessee s incom .....

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22-0-2010 that the same could not to have been derived from manufacturing activity in question. The assessee s case was that its scrap had been generated and arose from manufacturing only so as to form part and parcel thereof. The Assessing Officer was of the view that this scrap in question had arisen from sale of sold unusable products/materials and it was only incidental to manufacturing and not derived therefrom. He quoted tribunal s order in assessee s own case pertaining to the preceding a .....

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