https://www.taxtmi.com/highlights?id=59944 Disallowance u/s 10B - The term ‘manufacture’ has not been defined in Section 10B after the amendment was carried out in the year 2001. That has created an ambiguity if the argument by the learned Counsel for the assessee is considered where he sought to claim that to grant benefit to the assessee either the definition from the SEZ Act or the export import policy should be considered. The law is now well-settled that in case of ambiguity in an exemption provision the benefit has to go to the revenue. - HC en-us Mon, 04 Oct 2021 18:50:21 +0530 Mon, 04 Oct 2021 18:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59944 Disallowance u/s 10B - The term ‘manufacture’ has not been defined in Section 10B after the amendment was carried out in the year 2001. That has created an ambiguity if the argument by the learned Counsel for the assessee is considered where he sought to claim that to grant benefit to the assessee either the definition from the SEZ Act or the export import policy should be considered. The law is now well-settled that in case of ambiguity in an exemption provision the benefit has to go to the revenue. - HC Highlights Income Tax Mon, 04 Oct 2021 18:50:21 +0530 https://www.taxtmi.com/highlights?id=59944