Deduction u/s 80I - The word 'production' or 'produce' when used ...

Understanding Tax Deductions: Interpreting 'Production' vs 'Manufacture' u/s 80I for Income from New Goods Creation.

September 23, 2012

Case Laws Income Tax SC

Deduction u/s 80I - The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bringing into existence new goods by a process, which may or may not amount to manufacture. - SC

View Source

← Previous Next →

Deduction u/s 80I - The word 'production' or 'produce' when used ...

Understanding Tax Deductions: Interpreting 'Production' vs 'Manufacture' u/s 80I for Income from New Goods Creation.

September 23, 2012

Case Laws Income Tax SC

You may also like:

Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from...

Exemption from service tax - Job work - printing of PVC film/ sheets - Manufacturing activity vs Processing of goods - It is to be seen that the activity of production...

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

Deduction u/s 80HH and 80I - Whether the conversion of granite boulders into small pieces of different size amount to production or manufacture – Held Yes - HC

Deduction u/s 80I - interest income on short term bank deposits and tank hire charges - income earned or derived from manufacturing activity - HC

Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

Addition u/s 80I/80IA - crushing of shop stone - the outcome being the soap stone powder of different grades is a different and distinct marketable article from the...

Capital gain vs Business income - The income from share transactions has been rightly assessed as business income, however, Security Transaction tax (STT) has to be...

Taxable income to tax u/s 44BB v/s Section 44DA read with section 9(l)(vii) - The profit from this income was estimated at 25% and offered to tax at 40% plus applicable...

The case involves a dispute regarding the eligibility of deduction u/s 80IB for profits derived from repairs and maintenance services of moulds in an industrial...

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...

RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses...

Quick Updates: