9911796707
TMI Blog2008 (4) TMI 761X X X X Extracts X X X X X X X X Extracts X X X X ..... ent : KM Parikh ORDER The petitioner is a limited company at Baroda. The petitioner claimed that petitioner is a manufacturing concern and eligible for deduction under section 10B of the Income Tax Act [ Act for short]. That deduction was allowed under section 10B of the Act in respect of the assessment i.e., section 143(3). Thereafter, notices have been issued under section 148 for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that he has established a new unit. Notice was issued on the ground that assessee has concealed some facts and that he is not manufacturer but only processor, and 20% of the total value of the machinery at Madras is old machinery. Mr. Shah submits that 20% old machinery was purchased in the year 200304 and hence there is no reason to reopen the assessments for the assessment years 200102 and 2002 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... open the assessment. First of all, he should show that there was concealment on the part of the assessee, concealing the material facts for claiming deduction under section 10B. At page 6 of the petition, the petitioner has shown various manufacturing steps which the raw castings have to undergo [viz. Turning, boring, milling, radial drilling and boring, deburning, etc.]. He purchased raw valve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is different from the original goods which were put under the process. Here, considering the processes of the raw valves for final use, when the different product has come out, then it cannot be said that it is the same goods, as the raw goods could not be used without the processes under which the goods of the assessee have gone. Therefore, once it was allowed after seeing all these facts and w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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