https://www.taxtmi.com/caselaws?id=311758 The Tribunal overturned the Commissioner (Appeals)' decision, directing the assessing officer to allow the deduction u/s 80-IB. It ruled that the submission of the audit report in an old form was not a valid reason to disallow the deduction, as the defect was rectified during assessment proceedings. Additionally, the Tribunal determined that the business activity of producing exercise books and registers qualified as manufacturing, as it involved transforming raw materials into a commercially distinct product. Consequently, the assessee's appeal was allowed, granting the deduction u/s 80-IB. en-us Tue, 12 Aug 2008 00:00:00 +0530 Thu, 11 Jan 2024 15:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311758 The Tribunal overturned the Commissioner (Appeals)' decision, directing the assessing officer to allow the deduction u/s 80-IB. It ruled that the submission of the audit report in an old form was not a valid reason to disallow the deduction, as the defect was rectified during assessment proceedings. Additionally, the Tribunal determined that the business activity of producing exercise books and registers qualified as manufacturing, as it involved transforming raw materials into a commercially distinct product. Consequently, the assessee's appeal was allowed, granting the deduction u/s 80-IB. Case-Laws Income Tax Tue, 12 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311758