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Income Tax - Highlights / Catch Notes

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Whether polishing of rough granites amount to manufacture u/s ...

Income Tax

December 26, 2013

Whether polishing of rough granites amount to manufacture u/s 10B - when the resultant article no longer retained its original character, but has a different name and character, exemption allowed - HC

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  1. Activity of production of Marble Slabs / tiles from rough irregular marble slabs - cutting and polishing of the granites into slabs and tiles do not amount to activity...

  2. Activity of cutting and polishing of granites amount to manufacture only from 1-3-2006 - HC

  3. Benefit of deduction u/s 10-B - revenue contended that, assessee is not engaged in manufacture of any article or thing - exercise of processing and not that of...

  4. Additional depreciation - The cut and polished diamond could not be treated a new article or thing and that cutting and polishing of diamonds cannot be held...

  5. Deduction u/s 80IC - the cutting and polishing of diamond amounts to manufacturing or production of article or thing as envisaged for the purpose of claiming deduction...

  6. Manufacture - marble slabs and marble tiles - cutting of marble blocks into marble slabs - activity of polishing and ultimate conversion of blocks into polished tiles...

  7. Exemption on polished granite stone - if a polished granite which is a slab and used on the floor, it cannot be called a tile for the purpose of coming within the ambit...

  8. Deduction u/s 80JJA - cutting and polishing of diamond is a manufacturing or production of article or thing for claiming deduction u/s 80JJAA of the Act - AT

  9. Deduction u/s 80HH and 80I - Whether the conversion of granite boulders into small pieces of different size amount to production or manufacture – Held Yes - HC

  10. Conversion of M.S. round bars into bright bars through an activity of pickling, cutting, drawing and polishing does not amount to manufacture. - AT

 

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