https://www.taxtmi.com/caselaws?id=410991 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing a 100% deduction under Section 10-B of the Income Tax Act. The case focused on whether the assessee, engaged in the granite business, qualified as an export-oriented unit involved in manufacturing. The Tribunal interpreted "manufacture" broadly, considering the transformation of rough stones into polished granite as qualifying for the deduction. Relying on past judgments, the Tribunal emphasized the need for a comprehensive understanding of manufacturing processes in the granite industry, ultimately dismissing the Revenue's appeals and answering legal questions against them, with no costs imposed on either party. en-us Wed, 04 Aug 2021 00:00:00 +0530 Sat, 04 Sep 2021 22:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410991 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing a 100% deduction under Section 10-B of the Income Tax Act. The case focused on whether the assessee, engaged in the granite business, qualified as an export-oriented unit involved in manufacturing. The Tribunal interpreted "manufacture" broadly, considering the transformation of rough stones into polished granite as qualifying for the deduction. Relying on past judgments, the Tribunal emphasized the need for a comprehensive understanding of manufacturing processes in the granite industry, ultimately dismissing the Revenue's appeals and answering legal questions against them, with no costs imposed on either party. Case-Laws Income Tax Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410991