Dear Members
Could you please chk up and let me know whether you have any case law as to whether the Profit earned on JOB WORK done in a factory wherein all the expenses are met by the Principals and the Assessee does only the job work is eligible for 80-IB(4) of the Act. The fact of the case is that the Assessee has incurred huge expenditure in installation of Fixed Assets viz., Plant and Machinery and got it installed in the Principal's place. The Raw material and all other items such as consumables are provided by the Principals and the Assessee is entitled for the Conversion charges viz., manufacturing of Raw materials to the Finished Product.
Murali
CAclubindia
