https://www.taxtmi.com/caselaws?id=753080 Calcutta HC denied deduction u/s 80IB on profits from repair and maintenance services of moulds by an industrial undertaking. The court held that deduction is available only on profits derived from manufacturing or producing articles, not from ancillary services. The assessee failed to establish direct nexus between repair services and manufacturing activity, nor provided evidence that repairs were contractually linked to mould sales. Following Supreme Court precedent in Saraf Exports, the court ruled that industrial undertakings are entitled to deduction solely on profits from manufacturing/production activities, not from all profits attributable to the undertaking. en-us Tue, 07 May 2024 00:00:00 +0530 Thu, 23 May 2024 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753080 Calcutta HC denied deduction u/s 80IB on profits from repair and maintenance services of moulds by an industrial undertaking. The court held that deduction is available only on profits derived from manufacturing or producing articles, not from ancillary services. The assessee failed to establish direct nexus between repair services and manufacturing activity, nor provided evidence that repairs were contractually linked to mould sales. Following Supreme Court precedent in Saraf Exports, the court ruled that industrial undertakings are entitled to deduction solely on profits from manufacturing/production activities, not from all profits attributable to the undertaking. Case-Laws Income Tax Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753080