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TMI Blog2014 (6) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... rom "manufacturing" was rejected – Held that:- Following Midas Polymer Compounds P. Ltd. v. Asst. CIT [2010 (12) TMI 414 - Kerala High Court] - The Tribunal has held that the assessee is eligible for such deduction - the Revenue did not file special leave petition before the Supreme Court as the tax effect was below the prescribed monetary limits for filing special leave petition – thus, there is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e opined that the assessee included the income from mixing on job work basis also in the profits liable for deduction under section 80-IB of the Income-tax Act. However, according to the Assessing Officer, the said income was not liable for deduction, therefore, rejected the claim of the assessee. According to the stand of the Revenue, that in mixing, the complete manufacturing does not occur and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue did not file special leave petition before the Supreme Court as the tax effect was below the prescribed monetary limits for filing special leave petition. The fact remains that as on today the Full Bench decision in I. T. A. No. 84 of 2009 (Midas Polymer Compounds P. Ltd. v. Asst. CIT [2011] 331 ITR 68 (Ker) [FB]) is the law declared on the subject matter. In that view of the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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