https://www.taxtmi.com/caselaws?id=401878 The court held that the Assessee's activities qualified as "manufacturing" under section 10B of the Income Tax Act. The process of upgrading iron ore through magnetic separation was deemed a form of "beneficiation," meeting the criteria for "manufacture." The court upheld the ITAT's decision to allow the deduction of Rs. 4,85,30,680 to the Assessee, dismissing the Revenue's appeal. en-us Wed, 09 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401878 The court held that the Assessee's activities qualified as "manufacturing" under section 10B of the Income Tax Act. The process of upgrading iron ore through magnetic separation was deemed a form of "beneficiation," meeting the criteria for "manufacture." The court upheld the ITAT's decision to allow the deduction of Rs. 4,85,30,680 to the Assessee, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 09 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401878