K. Shivashankar Bhat, J.
1. The question referred under section 256(1) of the Income Tax Act, 1961, in respect of the assessment year 1982-83 reads thus :
"Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that extraction of granite from a quarry and cutting the same into various sizes and polishing them, was one of manufacture or production of an article or thing, to be entitled to investment allowance under section 32A "
2. The principle applicable is governed by the ratio of the decision in Shankar Construction Co. v. CIT In fact, in another case, this court has already considered the applicability of the principle to the case of extraction of granite.
3. Following the aforesaid decision, the question is answered in the affirmative and against the Revenue.
Are you looking for a
legal research tool ?
Get Started
Do check other products like LIBIL, a
legal due diligence tool to get a litigation check report and
Case Management tool to monitor and collaborate on cases.
Commissioner Of Income-tax v. Mysore Minerals Ltd
Commissioner Of Income-tax v. Mysore Minerals Ltd
(High Court Of Karnataka)
Income Tax Referred Case No. 92 Of 1992 | 28-10-1992
Advocate List
- For Petitioner : Addl. Commissioner
- For Respondent : Deokinandan, Adv.
Bench
- HON'BLE JUSTICE K. SHIVASHANKAR BHAT
- HON'BLE JUSTICE R. RAMAKRISHNA, JJ.
Eq Citations
- (1992) 109 CTR (KAR) 250
- [1994] 205 ITR 461 (KAR)
- LQ/KarHC/1992/382
Head Note
Income Tax — Investment allowance — Manufacture or production of an article or thing — Extraction of granite from a quarry and cutting the same into various sizes and polishing them — Held, is one of manufacture or production of an article or thing — Investment allowance under S. 32-A of Income Tax Act, 1961, held, is available — Shankar Construction Co., (1989) 1 SCC 319, distinguished
