https://www.taxtmi.com/caselaws?id=126822 Conversion of boulders and rocks into stone chips with labour and machinery was treated as a manufacturing process because it produced a commercially distinct product of different character and value. On that basis, the quarry was regarded as an industrial undertaking, and the exemption under section 15C was available. The fact that the raw material was stone did not prevent the activity from qualifying as manufacture where the process involved transformation into a useful marketable product. en-us Wed, 07 Jul 1965 00:00:00 +0530 Wed, 23 Jan 2013 14:44:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126822 Conversion of boulders and rocks into stone chips with labour and machinery was treated as a manufacturing process because it produced a commercially distinct product of different character and value. On that basis, the quarry was regarded as an industrial undertaking, and the exemption under section 15C was available. The fact that the raw material was stone did not prevent the activity from qualifying as manufacture where the process involved transformation into a useful marketable product. Case-Laws Income Tax Wed, 07 Jul 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126822