https://www.taxtmi.com/caselaws?id=13959 The Tribunal accepted the assessee's contention for development rebate under section 33(l)(a) of the Income-tax Act, directing the Income-tax Officer to recompute income. The High Court affirmed the allowance of higher development rebate for machinery used in manufacturing electricity meters, considering them as equipment for electricity generation and transmission. Precedents clarified that machinery manufacturing any listed item entitles the assessee to claim the rebate. The Court ruled in favor of the assessee, recognizing the machinery's purpose in manufacturing equipment related to electricity generation and transmission. en-us Mon, 23 Apr 2001 00:00:00 +0530 Mon, 06 Jul 2009 15:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13959 The Tribunal accepted the assessee's contention for development rebate under section 33(l)(a) of the Income-tax Act, directing the Income-tax Officer to recompute income. The High Court affirmed the allowance of higher development rebate for machinery used in manufacturing electricity meters, considering them as equipment for electricity generation and transmission. Precedents clarified that machinery manufacturing any listed item entitles the assessee to claim the rebate. The Court ruled in favor of the assessee, recognizing the machinery's purpose in manufacturing equipment related to electricity generation and transmission. Case-Laws Income Tax Mon, 23 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13959