Supreme Court dismisses tax appeals on polyester yarn manufacturing eligibility under Section 80IA.

The Supreme Court dismissed civil appeals filed by the Department regarding Assessment Years 1998-1999 and 2001-2002. The issue of whether texturing and twisting of polyester yarn constitute 'manufacture' for the deduction under Section 80IA of the Income Tax Act had been settled in a prior case. The appeals were dismissed without any cost orders.

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The Supreme Court dismissed civil appeals filed by the Department concerning Assessment Years 1998-1999 and 2001-2002. The question of whether texturing and twisting of polyester yarn amount to 'manufacture' for the purpose of deduction under Section 80IA of the Income Tax Act was answered in a previous case. The appeals were dismissed with no order as to costs.

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