https://www.taxtmi.com/caselaws?id=23255 The High Court ruled against a registered firm's claim for a higher rate of development rebate under the Income-tax Act, 1961. The firm's operations on existing cloth did not constitute manufacturing of textiles as required by the Act. The Court distinguished a precedent case and emphasized the need for the emergence of a new and distinct product for a process to qualify as "manufacture." The firm's reliance on the precedent was rejected, and the Court favored the Revenue, denying the higher rebate claim and awarding costs to the Revenue. en-us Fri, 06 Jul 1990 00:00:00 +0530 Thu, 17 Dec 2009 17:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23255 The High Court ruled against a registered firm's claim for a higher rate of development rebate under the Income-tax Act, 1961. The firm's operations on existing cloth did not constitute manufacturing of textiles as required by the Act. The Court distinguished a precedent case and emphasized the need for the emergence of a new and distinct product for a process to qualify as "manufacture." The firm's reliance on the precedent was rejected, and the Court favored the Revenue, denying the higher rebate claim and awarding costs to the Revenue. Case-Laws Income Tax Fri, 06 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23255