9911796707
|
Home
Issues involved: Interpretation of deduction under Sections 80HH and 80I/80IA of the Income Tax Act, 1961 for LPG Bottling Plants.
Judgment Summary: Issue 1: The main issue was whether the activity of bottling LPG Gas qualifies as production or manufacturing activity for the purpose of deduction under Section 80HH, 80I, and 80IA of the Income Tax Act, 1961. The Tribunal had held that the Appellant was not entitled to the deduction. The High Court, in a previous judgment, found that the process of bottling LPG Gas constitutes manufacturing activity as it brings a new product into existence, making it marketable. This decision was supported by previous rulings in similar cases. The Revenue did not dispute the applicability of this decision to the current appeals. Issue 2: The second question in each appeal pertained to the quantification of the deduction amounts. Following the precedent set by the earlier judgment, the High Court ruled in favor of the assessee and against the Revenue for both Question No.1 and Question No.2 in each appeal. Therefore, the appeals were allowed, and the questions were answered in the negative, favoring the assessee.
|
