1982 (4) TMI 102

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....smissed the appeal against the order dt. 20th Feb, 1978 of the ITO, Company. Cir. V (10), Bombay. 2. We are disposing of this appeal on passing an ex parte order since the assessee failed to appear on the day of hearing of this appeal without sufficient cause or reason in spite of the fact that the notice of the date of hearing of the appeal fixed on 28th Apr., 1982 was served on the assessee a....

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....ngly, no investment allowance was allowed to the assessee by him and as such, he made an addition of Rs.88,182 on account of it to the income of the assessee. 4. In appeal before the CIT (A), the assessee also failed, as he was of the view that the activities of the assessee-company, as described by the assessee's representative, clearly showed that the assessee was mainly engaged in retreading....

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.... case. 7. The Memorandum of appeal shows that the assessee is entitled to investment allowance, as claimed by it as the assessee is the processor of tyres; hence they fall within the purview of the definition of manufacture, and being so, the authorities below were unjustified in rejecting the claim of the assessee for the investment allowance referred to above.  On the other hand, shri me....

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....ormation for the old components so as to produce a commercially different article a or commodity. The retreading of old tyres does not bring into being a commercially distinct or different entity. The old tyre retains its original character or identity as a tyre. Retreading does not completely transform it into another commercial article although it improves its performance and serviceability as a....