https://www.taxtmi.com/caselaws?id=177564 The High Court upheld the ITAT's decision in favor of the assessee, allowing the deduction under section 10B of the Income-tax Act for processing stone, marble, and granite for export. The Court emphasized that the assessee's activities constituted a manufacturing process, meeting the criteria of section 10B. The judgment clarified the interpretation of 'manufacture or produce' under section 10B, stating that cutting and polishing of stones fell within this definition. The broader interpretation of manufacturing activities and the application of general principles were pivotal in the Court's decision to dismiss the revenue's appeal. en-us Thu, 03 Sep 2009 00:00:00 +0530 Tue, 12 Jan 2016 17:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177564 The High Court upheld the ITAT's decision in favor of the assessee, allowing the deduction under section 10B of the Income-tax Act for processing stone, marble, and granite for export. The Court emphasized that the assessee's activities constituted a manufacturing process, meeting the criteria of section 10B. The judgment clarified the interpretation of 'manufacture or produce' under section 10B, stating that cutting and polishing of stones fell within this definition. The broader interpretation of manufacturing activities and the application of general principles were pivotal in the Court's decision to dismiss the revenue's appeal. Case-Laws Income Tax Thu, 03 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177564