https://www.taxtmi.com/caselaws?id=23285 The High Court ruled in favor of the assessee, holding that they were entitled to claim a higher development rebate rate for manufacturing automobile ancillaries. The Court emphasized that the key factor for eligibility was the use of owned machinery for manufacturing, rather than ownership of raw materials or finished products. Ownership of the end products was deemed irrelevant for the tax benefit, with the focus placed on the manufacturing process. The Court concluded that the assessee met the criteria by using owned machinery for manufacturing automobile ancillaries, entitling them to the higher development rebate rate. en-us Wed, 03 Jan 1990 00:00:00 +0530 Fri, 18 Dec 2009 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23285 The High Court ruled in favor of the assessee, holding that they were entitled to claim a higher development rebate rate for manufacturing automobile ancillaries. The Court emphasized that the key factor for eligibility was the use of owned machinery for manufacturing, rather than ownership of raw materials or finished products. Ownership of the end products was deemed irrelevant for the tax benefit, with the focus placed on the manufacturing process. The Court concluded that the assessee met the criteria by using owned machinery for manufacturing automobile ancillaries, entitling them to the higher development rebate rate. Case-Laws Income Tax Wed, 03 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23285