rejected on the
following ground: -
i. The unit from which iron ore has been
processing/produced has not been conferred with
EOU status ... Ranjitpura more than 15 years
back and the assessee was processing the iron ore in that
2015
the details of the processed iron ore and the
destination is the ports from where the iron ore is
exported.
iv. Mrs. Snehalatha Singi ... processing the raw ore into fines and lumps. From
the seized material it is found that Mrs.Snehalatha
Singi was crushing and processing the iron
contains the
details of the processed iron ore and the
destination is the ports from where the iron ore
is exported.
xxii. Mrs. Snehalatha Singi ... entered into Ore raising
and processing agreements with various mine owners and she was involved
in ore excavation, extraction and processing the iron ore into
purchase of
iron ore in its prime condition, conversion of the same into seized
ore, calibrated ore and iron ore fines by usage ... change in chemical and physical composition of the
iron ore. The iron ore purchased by the assessee is basic and very
rudimentary element. In order
fines, handover to the mine owners who in turn
supplied processed iron ore to Bharat Mines and Minerals.
iii. The mine owners are just leaseholders ... though
ore raising and processing contract is in the name of Mrs
Snehalatha Singhi. Mine owners sell the processed iron ore
only to BMM. During
fines, handover to the mine owners who in
turn supplied processed iron ore to Bharat Mines and
Minerals.
iii. The mine owners are just leaseholders ... though ore raising and processing contract is in the name
of Mrs Snehalatha Singhi. Mine owners sell the processed
iron ore only to BMM. During
also purchasing iron ore fines. According
to the AO, purchase of iron ore made was directly exported without any
processing and it was only ... iron ore from its own
mine as well as purchasing iron ore from outside and both the quantities of
iron ore were being processed before
Section 10B cannot be denied merely because of
outsourcing of processing of iron ore. He has referred to the profit and loss
account as well ... Bang/2016
M/s. Lakshminarayana Mining Company
iron ore processed through outsourcing of job work and consequently as per
the provisions of foreign trade policy
substantially interested. It is into the business of
extraction of iron ore, processing the iron ore and trading in
the same. Further assessee owns windmills
Bmm Ispat Limited, Hospet vs Dcit, Bangalore on 10 April, 2018
IN THE INCOME TAX
