https://www.taxtmi.com/caselaws?id=58334 The Tribunal concluded that the assessee-company, engaged in ship breaking, does not qualify as an industrial undertaking engaged in manufacturing activities. It reversed the CIT(A)'s direction to allow deductions under sections 80HHA and 80-I of the I.T. Act, aligning with the Assessing Officer's view. The Tribunal emphasized the impact of the Supreme Court decision in CIT v. N.C. Budharaja & Co., which altered interpretations of key terms. It dismissed the assessee's claims of mistakes in its order and affirmed its decision based on legal principles and the Supreme Court's interpretation. en-us Mon, 19 Aug 1996 00:00:00 +0530 Sat, 18 Dec 2010 14:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58334 The Tribunal concluded that the assessee-company, engaged in ship breaking, does not qualify as an industrial undertaking engaged in manufacturing activities. It reversed the CIT(A)'s direction to allow deductions under sections 80HHA and 80-I of the I.T. Act, aligning with the Assessing Officer's view. The Tribunal emphasized the impact of the Supreme Court decision in CIT v. N.C. Budharaja & Co., which altered interpretations of key terms. It dismissed the assessee's claims of mistakes in its order and affirmed its decision based on legal principles and the Supreme Court's interpretation. Case-Laws Income Tax Mon, 19 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58334