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Income Tax - Highlights / Catch Notes

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Deduction u/s 80IC - the cutting and polishing of diamond ...

Income Tax

September 8, 2014

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 u/s 80IC - AT

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  2. 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

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

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

  5. Re-classification of imported goods - cut and polished diamonds - While the impugned goods may not be ‘rough diamonds’ as mined and may have undergone working before its...

  6. 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...

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

  8. Claim of deduction u/s 80IC – Manufacture of air purifier or air purification systems amounts to manufacturing activity or not – the activity amounts to manufacture - HC

  9. Claim of deduction u/s 80IC - Packaging of Horlics, Boost for Glaxo Smithkline Consumer Healthcare Ltd. amounts to manufacture or not u/s 2(29BA) – deduction allowed - AT

  10. Addition made u/s 69 - unexplained investment - Shortage of rough diamonds means either same were sold outside India of which are available for investment or it has been...

 

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