https://www.taxtmi.com/caselaws?id=18712 The court held that unpolished granite does not qualify for deduction under section 80HHC of the Income-tax Act, 1961, as the term "processed" in the Twelfth Schedule is exhaustive and includes only "cut and polished" granite. The validity of Circular No. 693, which specified the eligibility criteria for the deduction, was upheld as it aligns with the legislative intent. Additionally, the court ruled that the Assessing Officer cannot disallow deductions without providing an opportunity for a hearing, setting aside the adjustment made under section 143(1)(a) and directing reconsideration under section 143(2). en-us Mon, 11 Sep 1995 00:00:00 +0530 Sat, 31 Oct 2009 15:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18712 The court held that unpolished granite does not qualify for deduction under section 80HHC of the Income-tax Act, 1961, as the term "processed" in the Twelfth Schedule is exhaustive and includes only "cut and polished" granite. The validity of Circular No. 693, which specified the eligibility criteria for the deduction, was upheld as it aligns with the legislative intent. Additionally, the court ruled that the Assessing Officer cannot disallow deductions without providing an opportunity for a hearing, setting aside the adjustment made under section 143(1)(a) and directing reconsideration under section 143(2). Case-Laws Income Tax Mon, 11 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18712