Supreme Court · 2022 INSC 1211 · Decided 17 November 2022
M/S Polyflex (India) PVT. LTD. v. The Commissioner of Income Tax & Another
- Court
- Supreme Court of India
- Citation
- 2022 INSC 1211 · [2022] 10 S.C.R. 127
- Case number
- CIVIL APPEAL No. 8260/2022
- Decided
- 17 November 2022
- Bench
- M.R. SHAH, M.M. SUNDRESH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80
Headnote
Income Tax Act - s.80-IB - Deduction under - Appellant- assessee manufactured 'polyurethane foam,' which is used as automobile seat - The assessee filed its return of income for the assessment year 2003-04 and claimed deduction u/s. 80-IB - Assessing the Act - CIT(A) upheld the order of the assessing officer - However, ITAT set aside the assessment order as well as the order passed by the CIT(A) - High Court set aside the order passed by the ITAT and restored the order passed by the assessing officer denying the
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