https://www.taxtmi.com/caselaws?id=329797 The Tribunal upheld the ld.CIT(A)'s decision, ruling that the assessee's activity of transforming imported parts into electric bikes constituted manufacturing under section 80IC. The Tribunal emphasized the emergence of a new distinct product with unique characteristics, supported by registration of design, excise duty exemption, and compliance with relevant laws. Citing case laws and statutory definitions, the Tribunal concluded that the deduction was valid, dismissing the Revenue's appeal. en-us Mon, 04 Jul 2016 00:00:00 +0530 Sat, 09 Jul 2016 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329797 The Tribunal upheld the ld.CIT(A)'s decision, ruling that the assessee's activity of transforming imported parts into electric bikes constituted manufacturing under section 80IC. The Tribunal emphasized the emergence of a new distinct product with unique characteristics, supported by registration of design, excise duty exemption, and compliance with relevant laws. Citing case laws and statutory definitions, the Tribunal concluded that the deduction was valid, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329797