https://www.taxtmi.com/caselaws?id=327131 The court held that Circular No. 21/2015 applies to pending References under Section 256(1) of the Income Tax Act, 1961. Consequently, the present Reference was left unanswered due to the tax effect being below Rs. 20 lacs. The court did not address the issue of whether the assessee's business of dubbing and sound recording qualifies as a manufacturing/processing activity. The court appreciated the assistance of Mr. Mihir Naniwadekar and disposed of the Reference with no order as to costs. en-us Fri, 08 Jan 2016 00:00:00 +0530 Tue, 03 May 2016 23:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327131 The court held that Circular No. 21/2015 applies to pending References under Section 256(1) of the Income Tax Act, 1961. Consequently, the present Reference was left unanswered due to the tax effect being below Rs. 20 lacs. The court did not address the issue of whether the assessee's business of dubbing and sound recording qualifies as a manufacturing/processing activity. The court appreciated the assistance of Mr. Mihir Naniwadekar and disposed of the Reference with no order as to costs. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327131