Bitumen/ bitumen emulsion/ cut back bitumen/ modified bitumen are mineral oil u/s. 80IB(a)

Hindustan Coals Private Limited Vs National Faceless Assessment Centre (ITAT Mumbai) ITAT Mumbai held that bitumen, bitumen emulsion, cut back bitumen, modified bitumen produced by the assessee certainly fall in the category of “mineral oil” for the purpose of section 80IB(a) of the Income Tax Act, 1961. Facts- Assessee company is a joint venture of Hindustan Petroleum Corporation (HPCL), India, and Colas SA, France. HPCL during its refining process of crude oil produces various items like Liquid Petroleum Gas (LPG), petrol, Naphtha, kerosene, diesel, lubricating oil, and fuel oil, and als...