DEPUTY COMMISSIONER OF INCOME TAX, UDUPI vs. SRI ASHOK M SHETTY, UDUPI

ITA 1436/BANG/2014Status: DisposedITAT Bangalore14 August 2015AY 2010-1110 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the process of extracting rock and converting it into dimensional blocks constituted 'manufacture' as defined under Section 2(29BA) of the Income Tax Act. Therefore, the assessee was eligible for deduction under Section 10B.

What were the facts?

The assessee was in the business of extracting and exporting granite blocks. The Assessing Officer disallowed the deduction under Section 10B, stating that the activity did not constitute manufacture or production of an article or thing. The CIT(A) allowed the deduction, holding that the process resulted in a new and distinct article.

What were the issues?

Whether the extraction and processing of granite blocks into dimensional blocks amounts to 'manufacture' or 'production' for the purpose of Section 10B deduction.

Which sections of the Income-tax Act were involved?

Section 10B,Section 2(29BA)

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Cases cited in this judgment(3)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, BANGALORE BENCH ‘B’, BANGALORE

Before: SHRI GEORGE GEORGE, K & SHRI JASON P BOAZ

For Appellant: Shri V. Srinivasan, CA
For Respondent: Dr. P.K.Srihari, Addl.CIT, Shri V. Srinivasan, CA

PER SHRI GEORGE GEORGE, K JM:

These two appeals instituted, at the instance of the Revenue, are directed against the consolidated order of the CIT (A), Mysore, dated

21.8.

2014. The relevant assessment years are 2010-11 and 2011-12. 2. The only grievance of the Revenue, for both the assessment years

under dispute, is that “the CIT (A) was erred in allowing the assessee’s claim of deduction u/s 10B of the Act as the assessee’s

2 ITA Nos.1436 & 1562(B)/14

business activity did not amount to manufacture or production of any article or thing as evidenced in s. 10A/10B of the Act.”

3.

Briefly st

The order continues below.

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