S.C : Whether texturing and twisting of polyester yarn amount to `manufacture’ for the purpose of computation of deduction under Section 80-IA

Supreme Court Of India

CIT vs. Yashasvi Yarn Ltd

Section 80IA

S. H. Kapadia CJI & Madan B. Lokur, J.

Special Leave to Appeal (Civil) No(s). 3732/2009

11th September, 2012

Counsel appeared

R. P. Bhatt, Arijit Prasad, Sadhana Sandhu, N. Annapoorani, Anil Katiyar, B. V. Balaram Das, Advs. for the Petitioner.: Alok Yadav, M. P. Devanath, Advs. for the Respondent.

ORDER

Heard learned counsel on both sides.

Delay condoned.

Leave granted.

The civil appeals filed by the Department are dismissed with no order as to costs.

ORDER

Heard learned counsel on both sides.

Delay condoned.

Leave granted.

These appeals filed by the Department concern Assessment Years 1998-1999 and 2001-2002. A short question which arises for determination in these civil appeals is, whether texturing and twisting of polyester yarn amount to ‘manufacture’ for the purpose of computation of deduction under Section 80-IA of the Income Tax Act, 1961. This question has been squarely answered by this Court in the case of Commissioner of Income-Tax vs. Emptee Poly- Yarn P. Ltd., reported in (2010) 320 ITR 665.

Accordingly, the civil appeals filed by the Department are dismissed with no order as to costs.

[Citation : 350 ITR 208]

Scroll to Top
Malcare WordPress Security