https://www.taxtmi.com/caselaws?id=6923 For development rebate under section 10(2)(vib) of the Indian Income-tax Act, 1922, "plant" and "installed" were construed broadly in the context of a hiring business. Kolhus let out on hire were treated as installed when placed in position for service, and they were wholly used for the assessee's business because hiring them was the very business activity. The Court also held that no restrictive words could be read into the provision to confine the rebate to machinery personally used in processing operations, and income from let-out machinery remained assessable as business income. en-us Fri, 20 Jan 1967 00:00:00 +0530 Sat, 07 Feb 2009 09:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6923 For development rebate under section 10(2)(vib) of the Indian Income-tax Act, 1922, "plant" and "installed" were construed broadly in the context of a hiring business. Kolhus let out on hire were treated as installed when placed in position for service, and they were wholly used for the assessee's business because hiring them was the very business activity. The Court also held that no restrictive words could be read into the provision to confine the rebate to machinery personally used in processing operations, and income from let-out machinery remained assessable as business income. Case-Laws Income Tax Fri, 20 Jan 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6923