https://www.taxtmi.com/caselaws?id=211346 The Court held that the activity of assembling diesel generating sets qualifies as manufacturing under section 80-IA of the Income-tax Act, allowing the deduction for the assessee. However, the Court ruled that forfeited advances do not qualify for deduction under section 80-IA, while remitting the decision on interest income from customers back to the Assessing Officer for further examination. The appeal was decided in favor of the assessee regarding manufacturing activity but in favor of the Revenue concerning forfeited advances. en-us Wed, 23 Dec 2009 00:00:00 +0530 Sat, 24 Mar 2012 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211346 The Court held that the activity of assembling diesel generating sets qualifies as manufacturing under section 80-IA of the Income-tax Act, allowing the deduction for the assessee. However, the Court ruled that forfeited advances do not qualify for deduction under section 80-IA, while remitting the decision on interest income from customers back to the Assessing Officer for further examination. The appeal was decided in favor of the assessee regarding manufacturing activity but in favor of the Revenue concerning forfeited advances. Case-Laws Income Tax Wed, 23 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211346