https://www.taxtmi.com/caselaws?id=253752 The Tribunal upheld the CIT(A)'s decision to allow the deduction under Section 10B for the assessee's manufacturing activity of mixing perfumery compounds. It determined that the activity qualified as manufacturing as the end product was commercially different from the raw materials. The Tribunal also upheld the restriction on the claim under Section 10B based on profit margins compared to a sister concern. Additionally, the Tribunal affirmed the CIT(A)'s jurisdiction to compute capital gains in the hands of the successor company due to the merger violating Section 47(xiii). Both the Revenue's and the assessee's appeals were dismissed. en-us Tue, 25 Nov 2014 00:00:00 +0530 Wed, 03 Dec 2014 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253752 The Tribunal upheld the CIT(A)'s decision to allow the deduction under Section 10B for the assessee's manufacturing activity of mixing perfumery compounds. It determined that the activity qualified as manufacturing as the end product was commercially different from the raw materials. The Tribunal also upheld the restriction on the claim under Section 10B based on profit margins compared to a sister concern. Additionally, the Tribunal affirmed the CIT(A)'s jurisdiction to compute capital gains in the hands of the successor company due to the merger violating Section 47(xiii). Both the Revenue's and the assessee's appeals were dismissed. Case-Laws Income Tax Tue, 25 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253752