2011 (9) TMI 746 - HC - Income Tax

Deduction u/s 80IA - activity of producing sharpener blades and Glue and lead - The fact that the excisable products are exempt from the payment of excise duty cannot be a ground to hold that the products in question are not manufactured by the assessee - Deduction u/s 80IA allowed - Decided in favor of the asessee

Summary

The High Court Bombay upheld the ITAT decision that sharpener blades and glue production constitute manufacturing, entitling the assessee to deduction under Section 80IA of the Income Tax Act. The appeals were dismissed, and no costs were awarded.