https://www.taxtmi.com/caselaws?id=120046 The ITAT concluded that the assessee's activities of manufacturing polished marble slabs, tiles, and table tops qualified as "manufacture" under section 80-IB(2)(iii) of the Income Tax Act, thus entitling the assessee to the deduction. The issue regarding the treatment of interest income was remanded to the AO for further examination. Consequently, the appeals were partly allowed, with the Tribunal dismissing the penalty issue as premature and directing the resolution of consequential interest under sections 234A, 234B, and 234C based on the main issue's outcome. en-us Wed, 09 Aug 2006 00:00:00 +0530 Wed, 28 Feb 2024 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120046 The ITAT concluded that the assessee's activities of manufacturing polished marble slabs, tiles, and table tops qualified as "manufacture" under section 80-IB(2)(iii) of the Income Tax Act, thus entitling the assessee to the deduction. The issue regarding the treatment of interest income was remanded to the AO for further examination. Consequently, the appeals were partly allowed, with the Tribunal dismissing the penalty issue as premature and directing the resolution of consequential interest under sections 234A, 234B, and 234C based on the main issue's outcome. Case-Laws Income Tax Wed, 09 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120046