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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Allowance of process loss in Sun Flower Oil - only on basis of ...

Income Tax

August 4, 2016

Allowance of process loss in Sun Flower Oil - only on basis of an isolated answer by one of the Directors of the company, the Assessing Officer could not have come to the conclusion that the process loss was artificially inflated. - HC

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  1. Manufacture - Isolated soya protein - the starting point of the making process is de-oiled cake, i.e. de-fatted. The net result is that the final product - isolate soya...

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  4. Activity Manufacture OR Not – the processes of decantation and distillation done by the appellant - whether processed goods remain same as Crude Oil - held no...

  5. Activity Manufacture OR Not – Goods Marketable OR Not - processing of waste oil - process of dehydration, distillation, clay polishing and filtration etc. - prima facie...

  6. Process amounting to manufacture or not - conversion of waste oil/used oil/sludge obtained from various sources into reclaimed fuel oil / re-refining used oil amounts -...

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