I-T - Assessee, exclusively engaged in blending and processing of tea as 100% EoU, eligible for Sec 10B benefits - ITAT Sp Bench
THE question before the Special Bench was, "Whether, on the facts and in the circumstances of the case, the Assessees, who are in the business of blending & processing of tea and export thereof, can be said to be "Manufacturer/Producer" of the tea for the purpose of Section 10A/10B of the I.T. Act, 1961 ?"
The Special Bench in a detailed order dated 20.07.2012 held, "the assessees who are in the business of blending and processing of tea and export thereof, in 100% EOUs are manufacturer/ producer of the tea for the purpose of claiming exemption u/s.10B of the Act. Further, assessees who are in the business of blending and processing of tea in respect of undertakings in free trade zones are manufacturer/producer of tea for the purpose of claiming exemption u/s. 10A of the Act."
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