CIT v. N.C. Budharaja & Co.

204 ITR 412Supreme Court of India1993#599 most cited

What is CIT v. N.C. Budharaja & Co. authority for?

The word 'production' has a wider connotation than 'manufacture'; every manufacture is production, but not every production amounts to manufacture. 'Production' includes bringing into existence new goods, by-products, or inter-products through a process, which may or may not be manufacture.

164

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2006 to 2026.

Also referred to as

CIT v. N.C. Budharaja & Co. · 204 ITR 412 · production vs manufacture · definition of production · wider connotation of production · Section 80I · Section 80J · Section 80IB · Section 10B · tax incentives · deductions for industrial undertakings

Also reported as

70 Taxmann 312

Sections most often in play

Section 147Section 144Section 10BSection 145Section 148Section 80HHCSection 2(29BA)Section 32(1)(iia)

Issues it is cited on

section 2(29ba)section 32asection 80jsection 32(1)(iia)additional depreciationsection 32(1)section 32section 80isection 80notice under section 148section 10previous year

Judgments citing CIT v. N.C. Budharaja & Co.

Harshvardhan Constructions, Mumbai vs. ITO 23(1)(5), Mumbai

ITA 5225/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…language used in the provision. It was observed by the Hon‘ble Court that where the words are unequivocal, there is no scope for importing the rule of liberal interpretation of an incentive provision. Also, in the case of CIT Vs. N.C Budhiraja and Anr. (1993) 204 ITR 412 (SC), the Hon‘ble Supreme Court had held that interpretation of an incentive section should not do violence to the plain language. It was observed by the Hon‘ble Apex Court that the object of an enactment should be gathered from a reasonable interpretation of the language used therein. 31. Apart from the aforesaid judicial pronouncements of the…

ITO 23(1)(5), Mumbai vs. Harshvardhan Constructions, Mumbai

ITA 5912/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…language used in the provision. It was observed by the Hon‘ble Court that where the words are unequivocal, there is no scope for importing the rule of liberal interpretation of an incentive provision. Also, in the case of CIT Vs. N.C Budhiraja and Anr. (1993) 204 ITR 412 (SC), the Hon‘ble Supreme Court had held that interpretation of an incentive section should not do violence to the plain language. It was observed by the Hon‘ble Apex Court that the object of an enactment should be gathered from a reasonable interpretation of the language used therein. 31. Apart from the aforesaid judicial pronouncements of the…

DCIT CC 3(2) Cen RG 3, Mumbai vs. Vivek Mehrotra, Mumbai

In the result, all the appeals are dismissed, in the terms indicated above

ITA 2175/MUM/2018[2010-11]Status: DisposedITAT Mumbai27 May 2020AY 2010-11
Section 143(3)Section 80I

…erent. In our opinion, in view of this clause and the decision of Hon'ble Supreme Court in the case of Chowgule & Co. (supra), it cannot be held that the assessee is engaged in these units in manufacturing. 5.13 Further, in CIT Vs N.C. Budharaja & Co. (1993) 204 ITR 412 (SC), Hon’ble Supreme Court further observed that the word “production” is much wider than the word “manufacture”. It was said (page 423): “The word “production” has a wide connotation than the word “manufacture”. While every manufacture can be characterized as production, every production need not amount to manufacture… The word ‘production’ or…

DCIT CC 3(2) Cen RG 3, Mumbai vs. Vivek Mehrotra, Mumbai

In the result, all the appeals are dismissed, in the terms indicated above

ITA 2174/MUM/2018[2011-12]Status: DisposedITAT Mumbai27 May 2020AY 2011-12
Section 143(3)Section 80I

…erent. In our opinion, in view of this clause and the decision of Hon'ble Supreme Court in the case of Chowgule & Co. (supra), it cannot be held that the assessee is engaged in these units in manufacturing. 5.13 Further, in CIT Vs N.C. Budharaja & Co. (1993) 204 ITR 412 (SC), Hon’ble Supreme Court further observed that the word “production” is much wider than the word “manufacture”. It was said (page 423): “The word “production” has a wide connotation than the word “manufacture”. While every manufacture can be characterized as production, every production need not amount to manufacture… The word ‘production’ or…

DCIT CC 3(2) Cen RG 3, Mumbai vs. Vivek Mehrotra, Mumbai

In the result, all the appeals are dismissed, in the terms indicated above

ITA 2173/MUM/2018[2012-13]Status: DisposedITAT Mumbai27 May 2020AY 2012-13
Section 143(3)Section 80I

…erent. In our opinion, in view of this clause and the decision of Hon'ble Supreme Court in the case of Chowgule & Co. (supra), it cannot be held that the assessee is engaged in these units in manufacturing. 5.13 Further, in CIT Vs N.C. Budharaja & Co. (1993) 204 ITR 412 (SC), Hon’ble Supreme Court further observed that the word “production” is much wider than the word “manufacture”. It was said (page 423): “The word “production” has a wide connotation than the word “manufacture”. While every manufacture can be characterized as production, every production need not amount to manufacture… The word ‘production’ or…

M/S. M. P. Ware Housing & Logistics Corporation, Indore vs. CIT (TDS), Indore

In the result appeal of the assessee is allowed

ITA 491/IND/2019[2011-12]Status: DisposedITAT Indore26 May 2020AY 2011-12

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2011-12 M.P. Warehousing & Acit (Tds) Logistics Corporation, Vs. Indore Lrt Parisar, Aerodrum Road, Bada Ganapati, Indore (Appellant) (Revenue ) Pan No.Aadcm7742B Appellant By Shri Rajesh Mehta, Ca Revenue By Shri K.G. Goyal, Sr.Dr Date Of Hearing 12.03.2020 Date Of Pronouncement 26.05.2020

Section 133ASection 194Section 194ISection 201Section 201(1)

…with regard to the express language used in the provision. Where the words are unequivocal, there is no scope for importing the rule of liberal interpretation of an incentive provision. Similarly, Hon'ble Apex Court in the case of CIT Vs. Budda Raja & Company 204 ITR 412 has held that liberal interpretation of provision should not do violence to plain language. The object of enactment should be gathered from a reasonable interpretation of language used therein. The similar view has been taken by Hon'ble Apex Court in the case of IPCA Laboratories Vs. DCIT 266 ITR 321 wherein it has been clearly brought out that i…

Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore vs. M/S Coffeeday Global Limited, Bangalore

In the result, the appeals of the Revenue are partly allowed

ITA 3041/BANG/2018[2014-15]Status: DisposedITAT Bangalore24 Feb 2020AY 2014-15

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

Section 14ASection 32(1)(iia)Section 43A

…ITR 568 (Guj). 9. Commissioner of Sales Tax Vs. Dr.Sukhdeo (1969) 23 STC 385, 387 (SC). 10. CST Vs. Jagannath Cotton Company (1995) 99 STC 83, 86 (SC) 11. Devidas Goplakrishnan Vs. State of Punjab (1967) 20 STC 430 (SC) 12. CIT Vs. N.C.Budharaja & Co., (1993) 204 ITR 412 (SC) 13. CIT Vs. Shree Thriven! Foods (2015) 59 Taxmann.com 292 (HP) 14. Idandas V. Anant Ram Chandra Phadke AIR 1982 SC 127 15. CIT-7 V. Radio Today Broadcasting Ltd (2015) 64 taxmann.com 164 (Delhi). 16. Pr. Commissioner of Income Tax - 1 Vs. Vijay Pataka Synthetics (2015) 63 Taxmann.com 214 (Gujarat) 17. ITO, Ward-6(4), Surat V. Yash Creation…

Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore vs. M/S Coffeeday Global Limited, Bangalore

In the result, the appeals of the Revenue are partly allowed

ITA 3040/BANG/2018[2013-14]Status: DisposedITAT Bangalore24 Feb 2020AY 2013-14

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

Section 14ASection 32(1)(iia)Section 43A

…ITR 568 (Guj). 9. Commissioner of Sales Tax Vs. Dr.Sukhdeo (1969) 23 STC 385, 387 (SC). 10. CST Vs. Jagannath Cotton Company (1995) 99 STC 83, 86 (SC) 11. Devidas Goplakrishnan Vs. State of Punjab (1967) 20 STC 430 (SC) 12. CIT Vs. N.C.Budharaja & Co., (1993) 204 ITR 412 (SC) 13. CIT Vs. Shree Thriven! Foods (2015) 59 Taxmann.com 292 (HP) 14. Idandas V. Anant Ram Chandra Phadke AIR 1982 SC 127 15. CIT-7 V. Radio Today Broadcasting Ltd (2015) 64 taxmann.com 164 (Delhi). 16. Pr. Commissioner of Income Tax - 1 Vs. Vijay Pataka Synthetics (2015) 63 Taxmann.com 214 (Gujarat) 17. ITO, Ward-6(4), Surat V. Yash Creation…

The Deputy Commissioner of Income Tax, Circle-3, Guwahati vs. M/S. Numaligarh Refinery Ltd., Guwahati

In the result, appeals of the assessee in I

ITA 278/GTY/2018[2015-16]Status: DisposedITAT Guwahati13 Sept 2019AY 2015-16

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

Deputy Commissioner of Income Tax, Circle - 03, Guwahati vs. Numaligarh Refinery Limited, Guwahati

In the result, appeals of the assessee in I

ITA 28/GTY/2017[2013-14]Status: DisposedITAT Guwahati13 Sept 2019AY 2013-14

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

Numaligarh Refinery Limited, Guwahati vs. Deputy Commissioner of Income Tax, Circle - 03, Guwahati

In the result, appeals of the assessee in I

ITA 27/GTY/2017[2013-14]Status: DisposedITAT Guwahati13 Sept 2019AY 2013-14

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

The Deputy Commissioner of Income Tax, Circle-3, Guwahati vs. M/S. Numaligarh Refinery Ltd., Guwahati

In the result, appeals of the assessee in I

ITA 98/GTY/2016[2012-13]Status: DisposedITAT Guwahati13 Sept 2019AY 2012-13

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

The Deputy Commissioner of Income Tax, Circle-3, Guwahati vs. M/S. Numaligarh Refinery Ltd., Guwahati

In the result, appeals of the assessee in I

ITA 97/GTY/2016[2011-12]Status: DisposedITAT Guwahati13 Sept 2019AY 2011-12

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

M/S. Numaligarh Refinery Ltd., Guwahati vs. The Deputy Commissioner of Income Tax, Circle-3, Guwahati

In the result, appeals of the assessee in I

ITA 90/GTY/2016[2012-13]Status: DisposedITAT Guwahati13 Sept 2019AY 2012-13

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

M/S. Numaligarh Refinery Ltd., Guwahati vs. The Deputy Commissioner of Income Tax, Circle-3, Guwahati

In the result, appeals of the assessee in I

ITA 89/GTY/2016[2010-11]Status: DisposedITAT Guwahati13 Sept 2019AY 2010-11

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

M/S. Numaligarh Refinery Ltd., Guwahati vs. The Deputy Commissioner of Income Tax, Circle-3, Guwahati

In the result, appeals of the assessee in I

ITA 8/GTY/2014[2010-11]Status: DisposedITAT Guwahati13 Sept 2019AY 2010-11

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

M/S. Numaligarh Refinery Ltd., Guwahati vs. The Deputy Commissioner of Income Tax, Circle-3, Guwahati

In the result, appeals of the assessee in I

ITA 7/GTY/2014[2009-10]Status: DisposedITAT Guwahati13 Sept 2019AY 2009-10

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

M/S. Numaligarh Refinery Ltd., Guwahati vs. The Deputy Commissioner of Income Tax, Circle-3, Guwahati

In the result, appeals of the assessee in I

ITA 5/GTY/2014[2007-08]Status: DisposedITAT Guwahati13 Sept 2019AY 2007-08

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…

Deputy Commissioner of Income Tax, Pune vs. M/S. Kala Genset Pvt.Ltd, Pune

In the result, the appeal of the Revenue is dismissed

ITA 346/PUN/2017[2011-12]Status: DisposedITAT Pune26 Aug 2019AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.346/Pun/2017 िनधा"रण वष" / Assessment Year : 2011-12 Dcit, Circle-9, .......अपीलाथ" / Appellant Pune. बनाम / V/S. M/S. Kala Genset Pvt. Ltd., 392/1, Vill- Mahalunge, Tal. Khed, Pune-410501. ……""यथ" / Respondent Pan : Aaack6784C Revenue By : Shri N. Ashok Babu Assessee By : Shri Nikhil Pathak सुनवाई क" तारीख / Date Of Hearing : 17.07.2019 घोषणा क" तारीख / Date Of Pronouncement : 26.08.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Revenue Against The Order Of Cit(A)-6, Pune Dated 31.10.2016 For The Assessment Year 2011-12. 2. The Grounds Raised By The Revenue Are As Under :- “1. “Whether On The Facts & Circumstances Of The Case, The Cit(A) Was Justified In Deleting The Excess Remuneration Paid To The Directors Of The Company?” 2. “Whether On The Facts & Circumstances Of The Case, The Hon'Ble Cit(A) Was Justified In Allowing The Assessee’S Claim Of Rs. 55,20,630/- Claimed As Deduction U/S 80Ib(5)(I) Of The I.T. Act, 1961, When The Assessee Is Not Involved In Manufacturing Or Producing Activity But Is Only Carrying Out The Activity Of Assembling At Its Silassa Unit?”

For Appellant: Shri Nikhil PathakFor Respondent: Shri N. Ashok Babu
Section 10ASection 40A(2)(b)Section 80I

…of parts cannot be equated with manufacture of an article or thing?” 6. “whether on the facts and circumstances of the case, the Hon'ble CIT(A) has erred in not applying the ratio of Hon’ble Supreme Court in the case of CIT vs N.C. Budhiraja & Co. reported in 204 ITR 412, wherein the meaning of manufacture has been analyzed in detail?” 7. “Whether on the facts and circumstances of the case, the Ld. CIT(A) was justified in deleting disallowance of depreciation of Rs. 13,76,694/- on unexplained investment in WIP of Rs. 1,37,66,943/- when the Ld.CIT(A) vide his order for A.Y. 2010-11 accepted that the material has b…

Oil India Ltd., Dibrugarh vs. The Assistant Commissioner of Income Tax, Circle-2, Dibrugarh

ITA 33/GTY/2018[2008-09]Status: DisposedITAT Guwahati26 Aug 2019AY 2008-09

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 251Section 80I

…a). 26. The Revenue’s last argument is that assessee’s oil exploration activity cannot be taken “manufacture or production” as prescribed in sec. 80IC(2)(b) of the Act. Hon'ble apex court’s landmark judgment in CIT vs. N.C.Budharaja and Co. and Another (1993) 204 ITR 412 (SC) held long back that the statutory expression “produce” has wider connotation than the word “manufacture”. The former; when used in juxtaposition with the latter, brings into existence new goods by a process which may or may not amount to manufacture. And that the same also includes in all the by products; intermediary or residuary hon'ble De…