https://www.taxtmi.com/caselaws?id=399274 The Tribunal directed the Assessing Officer to reconsider the case for eligibility of deduction under section 10B, emphasizing the intention to export minerals and engage in manufacturing activities. It upheld the CIT(A)'s decision allowing exemption under section 10B based on the production of chrome concentrate as a manufacturing activity. The Tribunal dismissed the Revenue's challenge on reliance of ITAT's decision and disallowed 10% of transport payments under section 40A(3), citing previous favorable decisions for the assessee. The cross objection on transport expenses was also dismissed, with the Tribunal partly allowing the Revenue's appeal for statistical purposes. en-us Mon, 05 Oct 2020 00:00:00 +0530 Tue, 06 Oct 2020 19:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399274 The Tribunal directed the Assessing Officer to reconsider the case for eligibility of deduction under section 10B, emphasizing the intention to export minerals and engage in manufacturing activities. It upheld the CIT(A)'s decision allowing exemption under section 10B based on the production of chrome concentrate as a manufacturing activity. The Tribunal dismissed the Revenue's challenge on reliance of ITAT's decision and disallowed 10% of transport payments under section 40A(3), citing previous favorable decisions for the assessee. The cross objection on transport expenses was also dismissed, with the Tribunal partly allowing the Revenue's appeal for statistical purposes. Case-Laws Income Tax Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399274