Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2005)3SOT476(JP.)
..... same finance act inserted the twelfth schedule. ..... it is held that the mineral and ore exported by the appellant did not satisfy the specific conditions laid down in the twelfth schedule of the income tax act.in view of the above, the order of the learned commissioner(a) is sustained for the reasons given in appeal of the assessment year ..... on being asked by the learned commissioner(a), the assessee submitted his reply vide letter dated 6-11-1996 which is as under: "as per explanation to twelfth schedule the processing in relation to mineral or ores means dressing through mechanical means to obtain concentrates after removal of gangue and unwanted deleterious substances or through other means without altering the ..... in this connection, it is relevant to add that as per clause (1) of the twelfth schedule to the income tax act, soapstone powder which is also named as pulverized talc is one and the same thing and thus deduction under section 80hhc was rightly claimed and also rightly allowed by the assessing ..... therefore, the vital requirement of the process (f) of the explanation to the twelfth schedule was not met and satisfied by the appellant.now coming to another process of 'mechanical screening it is seen that there is no whisper about it in the letter of the appellant dated 16-12-1994 filed before the dcit (see ..... 2) act, 1991 with effect from 1-4-1991 wherein it was laid down that "processed mineral and ores specified in the twelfth schedule would be considered for deduction under .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2005)92TTJ(JP.)1
..... .expenses on workmen, raw material and administration which directly relate to installation of new plant has been transferred/ allocated to capital work in progress in accordance with accounting policy followed for complete balance sheet with schedule to accounts filed with return.hon'ble member never required to file the same.there is no separate director/auditor's report for the alleged two businesses as both the plants are of the same company, ..... the assessee's submission that the production of both the units is to be considered as production of the assessee-company appears to be a gossip in view of the specific information appended to the notes given in schedule 17 forming part of the balance sheet, wherein it has by way of information categorically mentioned that the quantities of capacity and the production are excluding of the capacity and production of new cement manufacturing unit. ..... similarly, the assessee, while giving information for class of goods manufactured sold and stocked--portland cement, as mandatorily required under the companies act, 1956, while stating the production of 3,92,416 mt has stated that the said quantity is by excluding clinker production of 586 mt of new cement ..... to find out whether the business was run from the common funds, we tried to trace and find if there was any account kept in common for flow of funds in financing the activities of the new business. ..... further did not find any common flow of funds in financing activities of the new business. .....
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