https://www.taxtmi.com/caselaws?id=15884 The court ruled against the company, denying the development rebate claim on the increased machinery cost due to currency devaluation. The decision was based on the interpretation of section 43A of the Income-tax Act, which prohibits considering exchange rate fluctuations for development rebate purposes. The outcome favored the Revenue, and the case was disposed of without any order as to costs. en-us Fri, 20 Feb 1998 00:00:00 +0530 Sat, 29 Aug 2009 16:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15884 The court ruled against the company, denying the development rebate claim on the increased machinery cost due to currency devaluation. The decision was based on the interpretation of section 43A of the Income-tax Act, which prohibits considering exchange rate fluctuations for development rebate purposes. The outcome favored the Revenue, and the case was disposed of without any order as to costs. Case-Laws Income Tax Fri, 20 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15884