https://www.taxtmi.com/caselaws?id=9063 The court held that the Tribunal's directive to the Income-tax Officer to first allow the full development rebate under section 10(2)(vib) and subsequently withdraw it under section 35(11) of the Indian Income-tax Act, 1922 was not justified. The court emphasized that if it is known at the time of assessment that the machinery for which the rebate is claimed was sold within the stipulated period, the rebate should not be allowed. Allowing the rebate only to withdraw it immediately under section 35(11) would be illogical and could raise issues of limitation. The court ruled in favor of the revenue, denying the justification for the Tribunal's directive. en-us Tue, 16 Jan 1973 00:00:00 +0530 Fri, 19 Jun 2009 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9063 The court held that the Tribunal's directive to the Income-tax Officer to first allow the full development rebate under section 10(2)(vib) and subsequently withdraw it under section 35(11) of the Indian Income-tax Act, 1922 was not justified. The court emphasized that if it is known at the time of assessment that the machinery for which the rebate is claimed was sold within the stipulated period, the rebate should not be allowed. Allowing the rebate only to withdraw it immediately under section 35(11) would be illogical and could raise issues of limitation. The court ruled in favor of the revenue, denying the justification for the Tribunal's directive. Case-Laws Income Tax Tue, 16 Jan 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9063