https://www.taxtmi.com/caselaws?id=6001 Cutting and polishing raw diamonds was held not to amount to manufacture or production of an article or thing for deduction under section 80-I of the Income-tax Act, 1961. Although the process alters raw diamonds and improves marketability, the decisive test is whether a new and distinct article or thing emerges. On the material noted, there was no support for treating polished diamonds as a different product produced by manufacture, and the earlier distinction was limited to processing for sale rather than manufacture. The issue was answered against the assessee and in favour of the Revenue. en-us Tue, 05 Dec 2000 00:00:00 +0530 Mon, 06 Oct 2025 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6001 Cutting and polishing raw diamonds was held not to amount to manufacture or production of an article or thing for deduction under section 80-I of the Income-tax Act, 1961. Although the process alters raw diamonds and improves marketability, the decisive test is whether a new and distinct article or thing emerges. On the material noted, there was no support for treating polished diamonds as a different product produced by manufacture, and the earlier distinction was limited to processing for sale rather than manufacture. The issue was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 05 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6001