1999 (3) TMI 10

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....cumstances of the case, the Tribunal was not correct in holding that 'granite' is a 'mineral' within the meaning of the term found in section 80HHC(b)(ii), Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee is not entitled to the allowance claimed under section 80HHC in respect of the granite exported from India ?" The questions having been answered against it, the assessee is in appeal. There is no material in the finding of the Tribunal other than the indication that the assessee exports granite. The assessee claimed for the granite which it exported the deduction available under section 80HHC of the Income-tax Act, 1961, as ins....

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....ks would be eligible for deduction under section 80HHC of the Act. As we have already noted, there is nothing on record to indicate that what the assessee exports is such value added granite so that, even assuming that the said circular is explanatory and can, therefore, relate back to the year in question, the assessee cannot derive any assistance therefrom. It is necessary immediately to note that the Mines and Minerals (Regulation and Development) Act covers granite as a minor mineral. This court in State of Mysore v. Swamy Satyanand Saraswati, AIR 1971 SC 1569, has held that granite is a mineral. The court quoted Halsbury's Laws of England thus : "The test of what is a mineral is what, at the date of the instrument in question....