Merely by carrying out processing which result into same commodity, there will not be any manufacturing or production for purpose of section 10B

 ITAT, AHMEDABAD BENCH `C’ AHMEDABAD, Tonira Pharma Ltd. Vs. ACIT, APPEAL NO: ITA No. 235/Ahd/2007, DECIDED ON April 30, 2010 ORDER Per D.C.Agrawal, Accountant Member. This is an appeal filed by the assessee raising following grounds :- (1) The ld. Commissioner Income Tax (Appeals)XIX, Ahmedabad (called CIT(A) has erred in denying exemption u/s 10B in respect of profit earned from mfg. Of Ascrobic Acid IP out of Ascrobic Acid FCCIV by treating same as trading activity. (1.1) The ld. CIT(A) further erred in confirming estimation of NP Rs.49,04,792/- i.e.@ 20% on purchase...