2008 (2) TMI 46

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.... of the Court was delivered by   K.RAVIRAJA PANDIAN,J.-1.  The Assessee Company is engaged in manufacturing plastic powder out of plastic granules.  During the relevant assessment year is 2002-03, the assessee company claimed deduction under section 80IB of the Income Tax Act, 1961, on the premise that the goods produced by the Assessee company is a product of manufacturing ....

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.... holding that conversion of polymer granules into powder amounts to manufacture entitling the assessee to the benefit of Section 80IB?" 2. We heard the Senior Standing Counsel for the Revenue. 3. The ultimate fact finding authority, the Tribunal has recorded a finding that the assessee is manufacturing various products of polymer powders.  The polymer powders were manufactured using the....

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....and only imply the form of the material.  The assessee used various polymers as their raw material with specialised chemicals for producing the polymer alloy powder.  In manufacturing process, different materials in different ratios and proportions, based on the scientific formulations and specifications, requirement, usage and application were put to manufacture along with special chemi....

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....es like fishing powder, micro dot powder, scatter powder, low profile additives, upfilter filtration media.  The process employed is a complex one and not merely limited to pulverisation or crushing.  Having regard to the process employed and the finished product which is stated to be completely a different one than the raw material and after taking the aid of the Supreme Court decisions....