Income Tax Officer,Udaipur vs M/S Arihant Tiles & Marbles(P)Ltd

The Supreme Court held that the conversion of marble blocks into polished slabs and tiles constitutes 'manufacture or production' under Section 80IA of the Income Tax Act, 1961. The Court emphasized that the term 'production' is broader than 'manufacture' and clarified that the activities undertaken by the assessee, including sawing, polishing, and reinforcing, meet the criteria set forth in Section 2(29BA) and Section 80IA(2)(iii). Consequently, the Court ruled in favor of the assessee, allowing the deduction under Section 80IA for the relevant assessment year.