2006 (2) TMI 106

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....led to deduction under section 80HHC of the Income-tax Act, 1961?" The brief facts leading to the filing of the above appeal are as under. The assessee-firm is engaged in the business of manufacturing and exporting granites. It has filed its return on November 30, 1989, admitting an income of Rs. 5,01,790. The assessee claimed relief under section 80HHC for the assessment year 1989-90 claiming that the activity of excavating granite blocks, cutting and polishing them with the help of machines, amounts to manufacture or production of an article or thing. The Assessing Officer turned down the claim of the assessee. Hence, the assessee went on appeal before the Appellate Commissioner of Income-tax, who decided the issue in favour of the ....

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....he exporter thereof, is therefore, disentitled to the benefit of that section." It is further held therein that: "There are no words of restriction which qualify the word 'minerals' and it would be reasonable to assume that in the absence of any such limitation, the word must be read to include all kinds of minerals in all its forms, i.e., whether subjected to any process or not as long as it continued to retain the characteristics of the mineral. To hold that the word 'minerals' never included processed minerals would require our reading words of limitation into an otherwise clear and unambiguous statutory provision." This court in CIT v. Pooshya Exports P. Ltd. [2003] 262 ITR 417, following the dictum referred to above, held that....