2018 (7) TMI 509 - SCH - Income Tax

Deduction u/s 10AA - activity which has been carried out by the assessee was not manufacturing activities and rather it was trading - Not only profits and gains of manufactured goods but also trading of goods are allowed for getting the exemption u/s 10AA - Held that - No merit in these petitions. The Special Leave Petitions are, accordingly, dismissed. However, the question of law as to Section 10 AA of the Income-Tax Act not referring to trading but only manufacture as a service is left open.

Summary

The Supreme Court of India dismissed the Special Leave Petitions, but left open the question regarding Section 10 AA of the Income-Tax Act not referring to trading but only manufacture as a service.