https://www.taxtmi.com/caselaws?id=68643 The tribunal partially allowed the revenue's appeal, directing adjustments in the valuation of closing stock. However, it upheld the CIT(A)'s decisions regarding the deletion of additions related to mill lining expenses and ISO certification expenses, recognizing them as revenue expenditures. Furthermore, the tribunal confirmed the allowance of the deduction under section 80-IB(3)(ii), determining that the assessee's activity constituted manufacturing. Thus, the CIT(A)'s decisions on these matters were affirmed. en-us Fri, 19 Jan 2007 00:00:00 +0530 Wed, 07 Feb 2024 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68643 The tribunal partially allowed the revenue's appeal, directing adjustments in the valuation of closing stock. However, it upheld the CIT(A)'s decisions regarding the deletion of additions related to mill lining expenses and ISO certification expenses, recognizing them as revenue expenditures. Furthermore, the tribunal confirmed the allowance of the deduction under section 80-IB(3)(ii), determining that the assessee's activity constituted manufacturing. Thus, the CIT(A)'s decisions on these matters were affirmed. Case-Laws Income Tax Fri, 19 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68643