https://www.taxtmi.com/caselaws?id=756987 The SC allowed the appeal, ruling in favor of the assessee by interpreting "production" under Section 80IA of the Income Tax Act, 1961, to include the conversion of sandstone blocks into gitti. The decision aligned with the precedent set in Income Tax Officer Vs. Arihant Tiles & Marbles P. Limited, recognizing such activities as manufacturing or production, thus entitling the appellant to the claimed tax deduction. The ruling emphasized the broader implications on revenue and tax liabilities, countering the Department's narrower interpretation. en-us Wed, 31 Jul 2024 00:00:00 +0530 Wed, 23 Oct 2024 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756987 The SC allowed the appeal, ruling in favor of the assessee by interpreting "production" under Section 80IA of the Income Tax Act, 1961, to include the conversion of sandstone blocks into gitti. The decision aligned with the precedent set in Income Tax Officer Vs. Arihant Tiles & Marbles P. Limited, recognizing such activities as manufacturing or production, thus entitling the appellant to the claimed tax deduction. The ruling emphasized the broader implications on revenue and tax liabilities, countering the Department's narrower interpretation. Case-Laws Income Tax Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756987