https://www.taxtmi.com/caselaws?id=216460 The Supreme Court dismissed the civil appeals filed by the assessee regarding the denial of a deduction claimed under Section 80IA of the Income Tax Act, 1961 for the Assessment Year 1998-1999. The Court emphasized the necessity of maintaining separate accounts for raw materials sold and income from manufacturing activities to accurately determine income sources. The failure to maintain distinct accounts hindered the assessment process, leading to the dismissal of the appeals due to the lack of maintained separate accounts as a crucial factor in the decision. en-us Wed, 05 Sep 2012 00:00:00 +0530 Wed, 12 Dec 2012 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216460 The Supreme Court dismissed the civil appeals filed by the assessee regarding the denial of a deduction claimed under Section 80IA of the Income Tax Act, 1961 for the Assessment Year 1998-1999. The Court emphasized the necessity of maintaining separate accounts for raw materials sold and income from manufacturing activities to accurately determine income sources. The failure to maintain distinct accounts hindered the assessment process, leading to the dismissal of the appeals due to the lack of maintained separate accounts as a crucial factor in the decision. Case-Laws Income Tax Wed, 05 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216460