Case Law Details
SUPREME COURT OF INDIA
Tamil Nadu Minerals Ltd.
versus
Commissioner of Income-tax, Tamil Nadu
CIVIL APPEAL NOs. 2997, 7472 & 7473 OF 2004
August 30, 2012
ORDER
Civil Appeal No.2997 of 2004:
1. The civil appeal filed by the assessee is dismissed with no order as to costs.
Civil Appeal Nos.7472-7473 of 2004:
2. These civil appeals filed by the assessee are allowed with no order as to costs.
ORDER
Civil Appeal No.2997 of 2004:
1. The following question of law arises for determination in this appeal:
“Whether the assessee is entitled to claim deduction to the extent of profits referred to in sub-section 1-B of Section 80HHC of the Income Tax Act, derived from export of goods – in this case, granite, for the Assessment Year 1988-1989?”
2. The above question has been answered against the assessee vide judgement of this Court in the case of Gem Granites v. CIT [2004] 141 Taxman 528.
The civil appeal filed by the assessee is, accordingly, dismissed with no order as to costs.
Civil Appeal Nos.7472-7473 of 2004:
3. The following question of law arises for determination in these appeals:
“Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the assessee is entitled to investment allowance on the activities of the assessee, viz., mining granite from quarries and exporting them after cutting, polishing, etc. which tantamount to manufacture for the purpose of Section 32A of the Income Tax Act, 1961?”
4. This issue is squarely covered in favour of the assessee vide judgement of this Court in the case of Gem Granites v. CIT [2004] 141 Taxman 528.
These civil appeals filed by the assessee are, accordingly, allowed with no order as to costs.
