Benefit of deduction u/s 80IC - Activity of processing of raw ...

Case Laws     Income Tax

February 1, 2024

Benefit of deduction u/s 80IC - Activity of processing of raw material received from HUL and then feeding the processed raw material to the mother plant of HUL - The Tribunal examined the nature of the assessee's activities and determined that they constituted 'manufacture' as per Section 80-IC of the Income Tax Act. - The Tribunal considered various factors such as the sophisticated machinery, factory registration, approvals from government authorities, and the nature of the activities performed by the assessee. It was found that these activities led to the creation of new goods, different from the raw materials received.

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