The Income Tax Appellate Tribunal (ITAT), New Delhi Bench held that generation of electricity is manufacture, eligible for deduction under Section 32AC of the Income Tax Act, 1961. The assessee company, M/s Interocean Shipping (India) Pvt. Ltd had filed its return of income for A.Y. 2016-17, declaring total income of Rs.4,80,12,060/-. During the previous year,…
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