https://www.taxtmi.com/caselaws?id=312470 The Tribunal allowed the appeal, reversing the denial of the deduction claim under section 80IB of the Act for the assessment year 2008-09. The Tribunal ruled that the assessee's activities in manufacturing lubricating oil and antistatic conning oil constituted a manufacturing activity, resulting in a commercially distinct product. This qualified the assessee for the deduction under section 80IB, as the provision should be interpreted liberally to promote growth and development. The decision was supported by previous tribunal decisions and case law, affirming the eligibility for the claimed deduction. en-us Wed, 10 Dec 2014 00:00:00 +0530 Tue, 20 Feb 2024 17:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312470 The Tribunal allowed the appeal, reversing the denial of the deduction claim under section 80IB of the Act for the assessment year 2008-09. The Tribunal ruled that the assessee's activities in manufacturing lubricating oil and antistatic conning oil constituted a manufacturing activity, resulting in a commercially distinct product. This qualified the assessee for the deduction under section 80IB, as the provision should be interpreted liberally to promote growth and development. The decision was supported by previous tribunal decisions and case law, affirming the eligibility for the claimed deduction. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312470