https://www.taxtmi.com/caselaws?id=10204 The High Court of Madhya Pradesh ruled in favor of the Revenue, determining that the assessee was not entitled to claim development rebate on plant and machinery based on an agreement dated December 28, 1973. The court emphasized the crucial date of December 1, 1973, as a determining factor for eligibility, stating that the agreement post that date did not fulfill the conditions under section 16(c) of the Finance Act, 1974. The court rejected arguments regarding prior dates and Companies Act compliance, strictly adhering to the specific date mentioned in the reference question. en-us Tue, 05 Oct 2004 00:00:00 +0530 Fri, 10 Jul 2009 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10204 The High Court of Madhya Pradesh ruled in favor of the Revenue, determining that the assessee was not entitled to claim development rebate on plant and machinery based on an agreement dated December 28, 1973. The court emphasized the crucial date of December 1, 1973, as a determining factor for eligibility, stating that the agreement post that date did not fulfill the conditions under section 16(c) of the Finance Act, 1974. The court rejected arguments regarding prior dates and Companies Act compliance, strictly adhering to the specific date mentioned in the reference question. Case-Laws Income Tax Tue, 05 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10204