https://www.taxtmi.com/caselaws?id=5646 The court allowed the appeals in favor of the Revenue, holding that the development rebate was rightly withdrawn under Section 155(5) of the Income-tax Act. The court determined that the sale of machinery within eight years violated the conditions outlined in Sections 33, 34, and 155(5), leading to the withdrawal of the development rebate. en-us Tue, 24 Mar 1998 00:00:00 +0530 Thu, 27 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5646 The court allowed the appeals in favor of the Revenue, holding that the development rebate was rightly withdrawn under Section 155(5) of the Income-tax Act. The court determined that the sale of machinery within eight years violated the conditions outlined in Sections 33, 34, and 155(5), leading to the withdrawal of the development rebate. Case-Laws Income Tax Tue, 24 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5646