Section 2(29BA) of the Income Tax Act

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.

Extraction and processing of iron ore constitutes "production" for the purpose of claiming tax benefits like investment allowance under Section 32A and additional depreciation under Section 32(1)(iia), even if it does not amount to "manufacture".

For the purpose of claiming deductions under sections like 10B, 80IC, 80HHC, 80J, and 80I, a process must amount to 'manufacture' as defined under Section 2(29BA), involving genuine value addition or chemical transformation.

The court may allow additional depreciation under section 32(1)(iia) for new machinery if it is used in the business of any article or thing, even if not directly linked to increasing production capacity.

The activity of cutting jumbo roll films into flat and small rolls in desired sizes is considered manufacture or production for the purposes of the Income-tax Act.

The transformation of bulk powder into regulated, consumable capsules constitutes manufacturing under the definition provided in various statutes, qualifying for associated tax benefits and deductions.

Whether a commercial commodity has been transformed into a different commercial commodity with a distinct character, use, and name is a factual determination that depends on the specific circumstances of the case.

A tribunal's decision against an assessee is upheld when following the Supreme Court's decision in Indian Hotels Co. Ltd. v. ITO, which dealt with the issue of 'manufacture or production' in relation to excise duty payment.

The transformation of pineapples into pineapple slices, jam, squash, and juice is not considered 'manufacture' for the purpose of tax laws, as the resulting products retain the essential character of the original fruit and are essentially processed goods rather than new articles with a different name, character, and use.

The transfer of assets from an existing unit to a new unit does not automatically attract Section 15C(2)(ii) if the value of the transferred assets is less than twenty percent of the total value of assets of the new unit. This decision clarifies when a new unit's operations are considered distinct from an old unit's operations.