Manufacturer of ‘Polyurethane Foam’ Used for Making Car Seats Eligible for Income Tax Deduction u/s 80-IB: Supreme Court

Manufacturer - Polyurethane Foam - Income Tax Deductuion - Supreme Court - taxscan

A two-judge bench of the Supreme Court, on Thursday held that a manufacturer of ‘polyurethane foam’ used for manufacturing of car seats would be eligible for income tax deduction under section 80-IB of the Income Tax Act, 1961. The assessee is manufacturing ‘polyurethane foam,’ which is ultimately used as automobile seat and claimed deduction under…

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M/s Polyflex (India) Pvt. Ltd vs Commissioner of Income Tax


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