https://www.taxtmi.com/caselaws?id=62062 Plant and machinery used for processing frozen fish and fish products, an item covered by the Fifth Schedule, retained its character as a business asset even when let out on hire and the hire receipts were assessed as business income. The mode of exploitation, whether by the assessee's own use or by leasing to another company, did not affect eligibility for the higher development rebate where the statutory conditions were otherwise met. The assessee was therefore entitled to development rebate at the higher rate of 35% on the freezing and cold storage plant and machinery. en-us Tue, 08 Apr 1975 00:00:00 +0530 Mon, 17 Jan 2011 18:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62062 Plant and machinery used for processing frozen fish and fish products, an item covered by the Fifth Schedule, retained its character as a business asset even when let out on hire and the hire receipts were assessed as business income. The mode of exploitation, whether by the assessee's own use or by leasing to another company, did not affect eligibility for the higher development rebate where the statutory conditions were otherwise met. The assessee was therefore entitled to development rebate at the higher rate of 35% on the freezing and cold storage plant and machinery. Case-Laws Income Tax Tue, 08 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62062