2003 (4) TMI 91

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and in the circumstances of the case, the Tribunal was justified in holding that the assessee was entitled to depreciation at 30 per cent. on the structural steel and tubular structure?" - It is not necessary that the manufacturer itself would sell the manufactured goods. The manufacturer may utilise it for construction of dams or for other purposes. Once a person manufactures any goods involving .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he structural steel and tubular structure?" The assessee has been held to be manufacturer. The Tribunal has recorded the following finding: "We have considered the facts and the rival submissions. The facts mentioned above speak for themselves. The assessee manufactures a highly technical product. Its raw material is cement and iron. The product is manufactured with the aid of plant and machin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e and also the wide definition of this term in section 43(3) of the Income-tax Act, 1961." It is not necessary that the manufacturer itself would sell the manufactured goods. The manufacturer may utilise it for construction of dams or for other purposes. Once a person manufactures any goods involving use of plant and machinery, capital and labour, he will be treated as a manufacturer and then it .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X