Commissioner Of Income Tax vs Emptee Poly-Yarn (P) Ltd.*

Authority: Supreme Court Date: 2008-03-31 AY: 1996-97 Section: 2(29BA), 80-IA Acts: Income Tax Act 1961, Finance Act No. 2 of 2009 Result: Assessee Citation: (2010) 229 CTR (SC) 1 : (2010) 320 ITR 665 : (2010) 188 TAXMAN 188 : (2010) 34 DTR 121 Justices: S.H. Kapadia "," H.L. Dattu, JJ. Appeal No: Civil Appeal No. 786 of 2010**
Whether twisting and texturising of partially oriented yarn (POY) amounts to 'manufacture' in terms of section 80-IA of the Income Tax Act, 1961 --- Held Yes, as the thermo-mechanical process applied to POY, a semi-finished product unfit for fabric manufacture, converts it into a distinct texturized yarn usable for fabric production, thereby constituting manufacture.

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