Cutting & Polishing of Marble Blocks into Slabs constitutes Manufacture for Section 10IB deduction

CIT Vs Jannani Holdings (Madras High Court) The Madras High Court held that conversion of limestone and marble into lime and limedust constitute the activity of manufacturing or production, entitled for deduction. The assessee, M/s. Jannani Holdings is engaged in the granite business and for the Assessment Year under consideration, AY 2005-06, they filed their return claiming 100% deduction under Section 10B of the Act. The return was selected for scrutiny and the case was discussed with the assessee. The claim of the assessee was that they are in the business of manufacture of granites and th...