Reassessment – Deduction U/s 80-IC on manufacturing of PET bottles?

Deduction available U/s 80-IC for manufacturing of PET bottles as it  fall within the negative list stipulated in serial No. 20 of the 13th schedule of the Income Tax Act and issue of notice on this ground  U/s 148 is invalid.

The entire substratum of the notices issued under section 148 of the said Act is that the petitioner’s product namely PET bottles fall within the negative list stipulated in serial No. 20 of the 13th schedule of the said Act. We have noted the arguments of the learned counsel for the

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