https://www.taxtmi.com/caselaws?id=18690 Cotton yarn manufacture fell within item 32 of the Fifth Schedule because textiles made wholly or mainly of cotton included cotton yarn. On the Tribunal's factual finding that the assessee's undertaking manufactured cotton yarn, the statutory description of a priority industry was satisfied, so the cotton waste plant qualified for the higher development rebate rate. The Revenue's contrary view could not displace that finding, and the assessee was entitled to development rebate at 35 per cent. en-us Thu, 16 Nov 1995 00:00:00 +0530 Sat, 31 Oct 2009 13:31:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18690 Cotton yarn manufacture fell within item 32 of the Fifth Schedule because textiles made wholly or mainly of cotton included cotton yarn. On the Tribunal's factual finding that the assessee's undertaking manufactured cotton yarn, the statutory description of a priority industry was satisfied, so the cotton waste plant qualified for the higher development rebate rate. The Revenue's contrary view could not displace that finding, and the assessee was entitled to development rebate at 35 per cent. Case-Laws Income Tax Thu, 16 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18690