2011 (2) TMI 109

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... that: such an activity of transforming the plain corrugated sheets into a different product of boxes, though to gain space for transportation, such boxes are kept in a folded position, one cannot say that the boxes continue to retain its original characteristics of corrugated sheets - Decided in the favour of the assessee - 1204, 1205, 1206 & 1207 of 2010 - - - Dated:- 7-2-2011 - MR. JUSTI .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... boxes and on that basis claimed deduction under Section 80IB of the Income-tax Act, on the profits derived in its business. According to the respondent/assessee, it procures paper corrugated sheets of different sizes, which is its raw material, put them into the designed machines for chiseling them at the required places in order to fold those sheets and pin them at the folded points and after pi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ee was entitled for deduction under Section 80IB of the Act. The Commissioner of Income-tax (Appeals) therefore directed the Assessing Officer to ascertain the exact quantum of deduction after making proper verification to grant the relief. 5. The Tribunal also took the same view and held that the conversion of corrugated sheets into boxes would amount to 'manufacture' having noted the nature .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X