https://www.taxtmi.com/caselaws?id=7047 Assembling bus or truck chassis from completely knocked down imported packs was treated as manufacture or production because the process converted numerous components into a commercially distinct self-propelled chassis. The Court held that the words "manufacture" and "produce" could bear wide or narrower meanings, but on either view the completed chassis fell within the statutory language. The assembly formed part of one integrated industrial programme for manufacture of diesel trucks, so the initial stage was within the industrial undertaking for section 15C purposes. The exemption period therefore commenced in the relevant previous year, with the answer against the assessee and in favour of the Revenue. en-us Tue, 14 Feb 1967 00:00:00 +0530 Sun, 08 Feb 2009 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7047 Assembling bus or truck chassis from completely knocked down imported packs was treated as manufacture or production because the process converted numerous components into a commercially distinct self-propelled chassis. The Court held that the words "manufacture" and "produce" could bear wide or narrower meanings, but on either view the completed chassis fell within the statutory language. The assembly formed part of one integrated industrial programme for manufacture of diesel trucks, so the initial stage was within the industrial undertaking for section 15C purposes. The exemption period therefore commenced in the relevant previous year, with the answer against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 14 Feb 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7047