https://www.taxtmi.com/caselaws?id=68950 The Tribunal upheld the Commissioner's decisions on both issues, dismissing the appeal by the revenue. The addition made for invisible loss in the production of yarn was deemed reasonable, lacking concrete evidence to justify the AO's addition. Regarding the claim for development rebate under section 33, the Tribunal confirmed that machinery used for textile production, including generators, should qualify for the higher development rebate, rejecting the revenue's arguments for a lower rate. en-us Sat, 25 Jul 1981 00:00:00 +0530 Fri, 20 Jan 2012 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68950 The Tribunal upheld the Commissioner's decisions on both issues, dismissing the appeal by the revenue. The addition made for invisible loss in the production of yarn was deemed reasonable, lacking concrete evidence to justify the AO's addition. Regarding the claim for development rebate under section 33, the Tribunal confirmed that machinery used for textile production, including generators, should qualify for the higher development rebate, rejecting the revenue's arguments for a lower rate. Case-Laws Income Tax Sat, 25 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68950