https://www.taxtmi.com/caselaws?id=7342 Development rebate on machinery or plant is available only when the asset is new, installed after the relevant date, and wholly used for the assessee's business. In this commentary, an air-conditioning plant in a building partly let out to tenants was treated as failing that test because income from the let-out portion was characterised as property income, not business income, under the Income-tax Act. The strict wording of the taxing provision was applied, so the fact that the plant served the whole premises or that the non-business use was small did not satisfy the condition. De minimis and substantial compliance were held inapplicable to relax the statutory requirement. en-us Wed, 03 Apr 1968 00:00:00 +0530 Wed, 18 Feb 2009 09:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7342 Development rebate on machinery or plant is available only when the asset is new, installed after the relevant date, and wholly used for the assessee's business. In this commentary, an air-conditioning plant in a building partly let out to tenants was treated as failing that test because income from the let-out portion was characterised as property income, not business income, under the Income-tax Act. The strict wording of the taxing provision was applied, so the fact that the plant served the whole premises or that the non-business use was small did not satisfy the condition. De minimis and substantial compliance were held inapplicable to relax the statutory requirement. Case-Laws Income Tax Wed, 03 Apr 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7342