2019 (12) TMI 830

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..... id submissions and for the reasons assigned in the aforesaid judgment, substantial question of law No.1 is answered against the Revenue and in favour of the assessee. Computation of loss - Tribunal is right in holding that the loss should be allowed at 3% of the total quantity and not on the quantity of wastage, as computed by the Assessing Authority? - HELD THAT:- The aforesaid substantial q .....

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..... law. (i) Whether the Tribunal is right in holding that the assessee was engaged in manufacture or production of an article or thing, and fulfilled the conditions laid down in Sections 10B(2)(ii) and 10B(2)(iii) of the Income Tax Act? (ii) Whether the Tribunal is right in holding that the loss should be allowed at 3% of the total quantity and not on the quantity of was .....

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