https://www.taxtmi.com/caselaws?id=411084 The High Court upheld the Tribunal's decision regarding the interpretation of "manufacture" under Section 10-B of the Income Tax Act, 1961. The Court emphasized the broad interpretation of "manufacture" based on precedents like Gem Granites v. CIT. It supported the assessee's eligibility for a deduction under Section 10-B for transforming rough stones into polished granite, distinguishing it from cases like Gem India Manufacturing Co. and Lucky Minmat Pvt. Ltd. The Court referenced relevant legal precedents to conclude that the Tribunal's decision was correct, dismissing the appeals and ruling in favor of the assessee. en-us Thu, 05 Aug 2021 00:00:00 +0530 Tue, 17 Aug 2021 09:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411084 The High Court upheld the Tribunal's decision regarding the interpretation of "manufacture" under Section 10-B of the Income Tax Act, 1961. The Court emphasized the broad interpretation of "manufacture" based on precedents like Gem Granites v. CIT. It supported the assessee's eligibility for a deduction under Section 10-B for transforming rough stones into polished granite, distinguishing it from cases like Gem India Manufacturing Co. and Lucky Minmat Pvt. Ltd. The Court referenced relevant legal precedents to conclude that the Tribunal's decision was correct, dismissing the appeals and ruling in favor of the assessee. Case-Laws Income Tax Thu, 05 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411084