Assessee not 'manufacturing company', dumpers qualify as 'road transport vehicles' for rebate under Income-tax Act.

The court determined that the assessee was not a 'manufacturing company' and that the dumpers purchased qualified as 'road transport vehicles' for claiming development rebate under section 33 of the Income-tax Act, 1961. The Tribunal's decision upholding the classification of the dumpers as road transport vehicles was deemed reasonable based on the evidence provided, leading to a ruling in favor of the Revenue. The assessee was directed to pay the costs of the reference.

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Issues Involved: Determination of whether the assessee is a 'manufacturing company' and whether the dumpers purchased by the assessee qualify as 'road transport vehicles' for claiming development rebate under section 33 of the Income-tax Act, 1961.

Manufacturing Company Issue: The court referred to a previous decision in the assessee's own case, where it was established that the assessee is not a 'manufacturing company', leading to a negative answer in favor of the Revenue.

Road Transport Vehicles Issue: The assessee purchased dumpers for heavy construction jobs, claiming development rebate as part of plant and machinery. The Appellate Assistant Commissioner found that the dumpers were road transport vehicles based on the material provided, including a brochure from the manufacturers. The Tribunal noted that the dumpers were registered as motor vehicles and used for an efficient transport system. It concluded that the dumpers, intended to transport goods on roads, qualified as road transport vehicles based on their use and purpose, a factual determination supported by relevant evidence.

Conclusion: The Tribunal's factual conclusion regarding the dumpers being road transport vehicles was upheld, emphasizing that it was a reasonable decision based on the evidence presented. The second question was answered in the affirmative in favor of the Revenue, and the assessee was directed to pay the costs of the reference.

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