TMI BlogDisallowance 80IB / 80IC - Manufacturing or production activity or not - assessee admittedly drills /...Disallowance 80IB / 80IC - Manufacturing or production activity or not - assessee admittedly drills / explores crude oil for the purpose of refining the same to various by-products - assessee’s crude oil exploration very much amounts to production going by the relevant facts. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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