https://www.taxtmi.com/highlights?id=55946 Deduction u/s 10B - activity the Assessee undertakes amount to manufacturing or processing to entail it to the benefit or not? - True, very low-grade iron ore cannot be used in metallurgical plants, for it needs to be upgraded to increase the iron content. In the Assessee's case, iron ore concentrates are manufactured by the process of magnetic separation. It essentially amounts to ‘manufactures’ or ‘process’. - HC en-us Fri, 18 Dec 2020 16:35:59 +0530 Fri, 18 Dec 2020 16:35:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55946 Deduction u/s 10B - activity the Assessee undertakes amount to manufacturing or processing to entail it to the benefit or not? - True, very low-grade iron ore cannot be used in metallurgical plants, for it needs to be upgraded to increase the iron content. In the Assessee's case, iron ore concentrates are manufactured by the process of magnetic separation. It essentially amounts to ‘manufactures’ or ‘process’. - HC Highlights Income Tax Fri, 18 Dec 2020 16:35:59 +0530 https://www.taxtmi.com/highlights?id=55946