Monday, 2 June 2014

Processing of transformer oil doesn’t bring any new article into existence; no sec. 80-IA deductions

IT : Where transformer oil had been purchased by assessee from market and centrifuging i.e., processing had been done by centrifugal machine in order to make it usable in transformer and no articles or things had emerged from said processing, assessee was not entitled to benefits of 100 per cent deduction under section 80-IA


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