2012 (1) TMI 232

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....t : Shri A.K.Nayak ORDER Per R.S.Syal, AM : These three appeals by the assessee in relation to assessment years 1998- 1999, 1999-2000 and 2000-2001 have a solitary issue about the denial of deduction u/s 80-IB. Since this is the only issue raised in all these three appeals, we are, therefore, proceeding to dispose them off by this consolidate order for the sake of convenience. 2. Brief....

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....ertaken by the assessee, does not amount to manufacture and hence cannot be made eligible for deduction u/s 80-IB. The learned A.R. has placed on record a copy of the direct decision of the Mumbai Bench of the Tribunal in Sheetal Diamonds Ltd. Vs. ITO [(2011) 47 SOT 75 (Mumbai)], {to which one of us namely the learned JM is party}, entitling the assessee to deduction u/s 80-IA on cutting and polis....