Benefit of section 80HHC for export of processed minerals--Clarification regarding export of cut and polished dimensional blocks, granite or other rocks

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..... 1/11/1995 The deduction under section 80HHC is available, as at present, in respect of "cut and polished minerals and rocks including cut and polished granites" with effect from 1-4-1991 by virtue of insertion of item (x) in the Twelfth Schedule to the Income-tax Act, 1961. The export of dimensional blocks of granite is presently ineligible for the benefit of section 80HHC in view of the CBDT C .....

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..... dimensional blocks of uniform colour and size, it not only undergoes mechanical process of cutting, but also, a certain amount of dressing and polishing is involved to remove various natural flaws such as colour variations, grain variations, joints, fissures, moles, patches, hair line cracks, etc. The profits derived from the export of such granite dimensional blocks would, accordingly, be eligib .....

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