https://www.taxtmi.com/caselaws?id=253490 The Gujarat High Court upheld the ITAT decision, ruling that ship breaking activity qualifies as manufacturing activity for deductions under sections 80HHA and 80I of the Income Tax Act. The Court followed the Supreme Court's interpretation that ship breaking results in the production of a distinct article, meeting the criteria for claiming the deduction. The judgment emphasized the broader scope of "production" over "manufacture," affirming the Tribunal's decision and dismissing the revenue's arguments. Consequently, the assessee firm engaged in ship breaking business was deemed eligible for the deductions, leading to the dismissal of the reference. en-us Fri, 07 Nov 2014 00:00:00 +0530 Wed, 26 Nov 2014 06:38:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253490 The Gujarat High Court upheld the ITAT decision, ruling that ship breaking activity qualifies as manufacturing activity for deductions under sections 80HHA and 80I of the Income Tax Act. The Court followed the Supreme Court's interpretation that ship breaking results in the production of a distinct article, meeting the criteria for claiming the deduction. The judgment emphasized the broader scope of "production" over "manufacture," affirming the Tribunal's decision and dismissing the revenue's arguments. Consequently, the assessee firm engaged in ship breaking business was deemed eligible for the deductions, leading to the dismissal of the reference. Case-Laws Income Tax Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253490