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1 - 10 of 26 (0.50 seconds)Section 80IC in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Section 80IA in The Income Tax Act, 1961 [Entire Act]
Section 80HH in The Income Tax Act, 1961 [Entire Act]
Section 154 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax 1 vs M/S. Hindustan Petroleum Corporation ... on 3 August, 2017
13. From perusal of the above finding of ld. CIT(A) given in the
order u/s 250 of the Act as well as u/s 154 of the Act allowing the
assessee's claim for deduction u/s 80IC/80IE of the Act for the
units located at Sivasagar, North Lakhimpur and Duliajan, we note
that ld. CIT(A) has followed the ratio laid down by the Hon'ble Apex
Court in the case of Hindustan Petroleum Corpn. Ltd. (supra) and
has analysed the details and the process carried out by the
assessee of converting the liquid oxygen into oxygen in gaseous
form and also observing that bulk LPGs is received in the bottling
plants located at respective units and then unloading in the
spheres/bullets through LPG compressors having variable levels
of pressure for suction, unloading and vapour recovery and
thereafter refilling/bottling of the LPG in cylinders and then
conversion of the same in gaseous form for the industrial and
medical consumers and after analysing this process ld. CIT(A) has
rightly arrived to the conclusion that the assessee is engaged in
the production activity and thus, eligible for deduction u/s
80IC/80IE of the Act.