https://www.taxtmi.com/caselaws?id=66023 The tribunal allowed the appeals, overturning the disallowances by the Income-tax Officer and upholding the claims for relief under sections 80HH and 54D. It ruled that groundnut decortication qualifies as manufacturing, granting the relief under section 80HH. Additionally, it held that the compensation reinvested in a new industrial unit was eligible for deduction under section 54D, directing taxation only on the remaining amount. The judgment stressed compliance with procedural requirements and interpreting statutory provisions favorably for the assessee. en-us Thu, 18 Jun 1987 00:00:00 +0530 Sat, 19 Feb 2011 18:51:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66023 The tribunal allowed the appeals, overturning the disallowances by the Income-tax Officer and upholding the claims for relief under sections 80HH and 54D. It ruled that groundnut decortication qualifies as manufacturing, granting the relief under section 80HH. Additionally, it held that the compensation reinvested in a new industrial unit was eligible for deduction under section 54D, directing taxation only on the remaining amount. The judgment stressed compliance with procedural requirements and interpreting statutory provisions favorably for the assessee. Case-Laws Income Tax Thu, 18 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66023