Separation of garnet sand from beach sand is manufacturing process; ITAT allows section 32AC deduction

Trimex Sands Pvt. Vs PCIT (ITAT Chennai)

Introduction: The Income Tax Appellate Tribunal (ITAT) in Chennai recently delivered a landmark ruling in the case of Trimex Sands Pvt. Ltd. Vs Principal Commissioner of Income Tax (PCIT). The crux of the judgment hinges on the classification of “extraction of minerals from beach sand” as a manufacturing process under section 2(29BA) of the Income Tax Act. The tribunal has thereby permitted income tax deductions for the sa

Please become a Premium member. If you are already a Premium member, login here to access the full content.