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<h1>High Court allows development rebate on data processing equipment under Income-tax Act</h1> The High Court of Bombay held that development rebate was allowable on data processing equipment under section 33(1) of the Income-tax Act, 1961, in line ... Developement Rebate The High Court of Bombay ruled that development rebate was admissible on data processing equipment under section 33(1) of the Income-tax Act, 1961, based on previous court judgments. The decision favored the assessee.
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