https://www.taxtmi.com/caselaws?id=117092 The Tribunal held that the proceedings initiated under section 263 of the Income-tax Act were not justified as the Assessing Officer had thoroughly examined the assessee's manufacturing activities before allowing the deduction under section 80-IA. The Tribunal also confirmed that the conversion of cotton waste into yarn by the assessee constituted a manufacturing process, making them eligible for the deduction. Consequently, the Tribunal quashed the Commissioner's order and allowed the appeal filed by the assessee. en-us Tue, 25 Feb 2003 00:00:00 +0530 Wed, 20 Jun 2012 12:47:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117092 The Tribunal held that the proceedings initiated under section 263 of the Income-tax Act were not justified as the Assessing Officer had thoroughly examined the assessee's manufacturing activities before allowing the deduction under section 80-IA. The Tribunal also confirmed that the conversion of cotton waste into yarn by the assessee constituted a manufacturing process, making them eligible for the deduction. Consequently, the Tribunal quashed the Commissioner's order and allowed the appeal filed by the assessee. Case-Laws Income Tax Tue, 25 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117092