https://www.taxtmi.com/caselaws?id=9183 Reconditioned machinery imported into India may qualify as "new machinery" for development rebate only where the reconditioning is so substantial that it amounts in substance to reconstruction or substitution of the whole machinery. Applying that test, the Court treated items (a) to (c) and item (h) as qualifying because the extent and cost of reconditioning made them practically new. Item (d) was excluded because the boiler was not substantially replaced, while items (e) and (f) failed for lack of reliable evidence of original acquisition cost and insufficient proof that the machinery had become substantially new. Development rebate was therefore admissible only on the identified qualifying items. en-us Thu, 19 Oct 1972 00:00:00 +0530 Sat, 20 Jun 2009 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9183 Reconditioned machinery imported into India may qualify as "new machinery" for development rebate only where the reconditioning is so substantial that it amounts in substance to reconstruction or substitution of the whole machinery. Applying that test, the Court treated items (a) to (c) and item (h) as qualifying because the extent and cost of reconditioning made them practically new. Item (d) was excluded because the boiler was not substantially replaced, while items (e) and (f) failed for lack of reliable evidence of original acquisition cost and insufficient proof that the machinery had become substantially new. Development rebate was therefore admissible only on the identified qualifying items. Case-Laws Income Tax Thu, 19 Oct 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9183