https://www.taxtmi.com/caselaws?id=245410 The High Court held that the assessee's business of repairing and manufacturing transformers did not qualify as an "industrial undertaking" under Section 80IA of the Income Tax Act, as the activities did not result in the production of new articles or things. The court emphasized that mere processing, such as centrifuging transformer oil, did not constitute manufacturing. Consequently, the assessee was not entitled to claim deductions under Section 80IA for transformer oil, and the court ruled in favor of the Revenue, denying the benefits of 100% deduction under the Income Tax Act. en-us Wed, 26 Mar 2014 00:00:00 +0530 Wed, 04 Jun 2014 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245410 The High Court held that the assessee's business of repairing and manufacturing transformers did not qualify as an "industrial undertaking" under Section 80IA of the Income Tax Act, as the activities did not result in the production of new articles or things. The court emphasized that mere processing, such as centrifuging transformer oil, did not constitute manufacturing. Consequently, the assessee was not entitled to claim deductions under Section 80IA for transformer oil, and the court ruled in favor of the Revenue, denying the benefits of 100% deduction under the Income Tax Act. Case-Laws Income Tax Wed, 26 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245410