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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Activity amounts to manufacture or not - Whether conversion of ...


High Court Rules Converting Gold to Jewelry is a Manufacturing Activity for Income Tax Purposes.

December 24, 2014

Case Laws     Income Tax     HC

Activity amounts to manufacture or not - Whether conversion of pure gold into jewellery amounts to manufacture or processing - Held Yes - HC

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  1. The applicant purchases second-hand gold or diamond jewelry from unregistered individuals, melts and transforms them into new pieces, altering their nature and...

  2. Purchase of gold for manufacturing of jewellery and ornaments - The assessing authority disallowed the claim for exemption on the sole ground that the purchasing dealer...

  3. Manufacture - Gold bars manufactured from the stage of dore bar - “gold mud” having very low percentage of gold “as any form of gold” - The activity is amounts to...

  4. Nature of activity - manufacture or service - Activity amounting to manufacture or not - crushing of lumps - Transformation processes - Transformation of goods in new...

  5. This public notice amends paragraph 4.59 of the Handbook of Procedures, 2023, and modifies the Standard Input Output Norms (SION) M-1 to M-8 for the export of jewellery....

  6. The HC set aside the Order-in-Original detaining petitioner's gold jewelry, finding violations of natural justice principles as no proper hearing was afforded and...

  7. The appellant Trust's application for registration u/s 12A was rejected by the Commissioner of Income Tax (Exemptions) on the grounds that its activities were not...

  8. Amendments to the AIRs of Duty Drawback on Gold Jewellery, Silver Jewellery and Silver Articles

  9. Whether the process of crushing of coal would amount to manufacturing activity - the activity could not be covered as a ‘manufacturing activity’ nor the crushed coal...

  10. Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P), a body constituted by State Government of Karnataka, is exempted from income tax u/s 10(46) of...

  11. The appeal addressed the scope of the terms "manufacture" and "production" u/s 80IA of the Income-tax Act. The court held that the conversion of blocks into polished...

  12. DUTY EXEMPTION / REMISSION SCHEMES - Export of gold jewellery, including partly processed jewellery, whether plain or studded, and articles, containing gold above 22...

  13. EOU / EHTP / STP / BTP - Export of gold jewellery, including partly processed jewellery, whether plain or studded, and articles, containing gold above 22 carats shall...

  14. Department of Commerce’s Statement on import of gold jewellery from Thailand

  15. Supply or not - taxability of 10 grams of pure gold, retained by the applicant, in the course of manufacture of gold jewellery from 1000 gm of pure gold provided to the...

 

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