https://www.taxtmi.com/caselaws?id=405607 Conversion of natural gas into compressed natural gas was treated as manufacture or production for additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961. The Tribunal applied the income-tax test of manufacture under Section 2(29BA), holding that compression through plant and machinery gives the gas a distinct name, character and use as a new commercial product. Reliance on Central Excise registration and the excise-law meaning of manufacture was held not to affect the income-tax analysis. The reopening issue under Section 147 was treated as academic, leaving eligibility for additional depreciation as the substantive question. en-us Fri, 19 Mar 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405607 Conversion of natural gas into compressed natural gas was treated as manufacture or production for additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961. The Tribunal applied the income-tax test of manufacture under Section 2(29BA), holding that compression through plant and machinery gives the gas a distinct name, character and use as a new commercial product. Reliance on Central Excise registration and the excise-law meaning of manufacture was held not to affect the income-tax analysis. The reopening issue under Section 147 was treated as academic, leaving eligibility for additional depreciation as the substantive question. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405607