https://www.taxtmi.com/caselaws?id=252492 The High Court affirmed that ship breaking qualifies as manufacturing activity for claiming deductions under section 80-IA of the Income Tax Act. Relying on a Supreme Court ruling and precedent, the Court upheld the firm's entitlement to the deduction, rejecting the revenue's appeal. The judgment aligns ship breaking with the broader definition of "production," supporting the firm's position and confirming the decision of the Income Tax Appellate Tribunal in favor of the respondent. en-us Fri, 10 Oct 2014 00:00:00 +0530 Mon, 27 Oct 2014 07:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252492 The High Court affirmed that ship breaking qualifies as manufacturing activity for claiming deductions under section 80-IA of the Income Tax Act. Relying on a Supreme Court ruling and precedent, the Court upheld the firm's entitlement to the deduction, rejecting the revenue's appeal. The judgment aligns ship breaking with the broader definition of "production," supporting the firm's position and confirming the decision of the Income Tax Appellate Tribunal in favor of the respondent. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252492