Monday 21 December 2015

No denial of sec. 10B relief just because end product of research contract would be used in later st

IT : Where research documents and speciality compound produced while providing 'contract research' service in chemistry would be used only in later stages of development of industrially useful chemicals, it could not be concluded that assessee was not manufacturing an article or thing; its claim for exemption under section 10B was to be allowed

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