https://www.taxtmi.com/caselaws?id=17360 The court upheld the decision of the Appellate Tribunal, granting a higher development rebate of 25% for machinery manufacturing pulp under the Fifth Schedule of the Income-tax Act, 1961. The court ruled that the use of the manufactured pulp for rayon yarn did not disqualify the assessee from eligibility for the rebate, as long as the pulp was manufactured alongside paper, newsprint, or pulp. The court emphasized that the Schedule did not restrict the utilization of manufactured pulp, leading to a favorable outcome for the assessee against the Department's contentions. en-us Thu, 19 Sep 1996 00:00:00 +0530 Mon, 21 Sep 2009 17:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17360 The court upheld the decision of the Appellate Tribunal, granting a higher development rebate of 25% for machinery manufacturing pulp under the Fifth Schedule of the Income-tax Act, 1961. The court ruled that the use of the manufactured pulp for rayon yarn did not disqualify the assessee from eligibility for the rebate, as long as the pulp was manufactured alongside paper, newsprint, or pulp. The court emphasized that the Schedule did not restrict the utilization of manufactured pulp, leading to a favorable outcome for the assessee against the Department's contentions. Case-Laws Income Tax Thu, 19 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17360