https://www.taxtmi.com/caselaws?id=4099 The Madras High Court upheld the Assessee's entitlement to a deduction under Section 80IB of the Income Tax Act, 1961. The Court affirmed the Tribunal's decision that the conversion of polymer granules into specialized polymer alloys in powder form constituted manufacturing, distinct from mere pulverization. The manufacturing process involved specific technical formulations and resulted in products with unique characteristics for various industrial applications. Citing legal precedents, the Court dismissed the Revenue's appeal, emphasizing the complexity and distinctiveness of the manufacturing process, ultimately supporting the Assessee's claim for the tax benefit. en-us Tue, 26 Feb 2008 00:00:00 +0530 Tue, 25 Mar 2014 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4099 The Madras High Court upheld the Assessee's entitlement to a deduction under Section 80IB of the Income Tax Act, 1961. The Court affirmed the Tribunal's decision that the conversion of polymer granules into specialized polymer alloys in powder form constituted manufacturing, distinct from mere pulverization. The manufacturing process involved specific technical formulations and resulted in products with unique characteristics for various industrial applications. Citing legal precedents, the Court dismissed the Revenue's appeal, emphasizing the complexity and distinctiveness of the manufacturing process, ultimately supporting the Assessee's claim for the tax benefit. Case-Laws Income Tax Tue, 26 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4099