https://www.taxtmi.com/caselaws?id=25855 The High Court ruled in favor of the company, affirming their entitlement to a development rebate at the rate of 40% for the trawlers. The Court endorsed the broader interpretation of the term "ship" based on the classification in the Income-tax Rules, emphasizing consistency in interpreting the term across relevant provisions. The judgment underscored the importance of contextual interpretation and statutory consistency in determining eligibility for tax benefits, ultimately upholding the company's claim for a higher development rebate percentage. en-us Wed, 13 Aug 1986 00:00:00 +0530 Mon, 01 Feb 2010 13:14:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25855 The High Court ruled in favor of the company, affirming their entitlement to a development rebate at the rate of 40% for the trawlers. The Court endorsed the broader interpretation of the term "ship" based on the classification in the Income-tax Rules, emphasizing consistency in interpreting the term across relevant provisions. The judgment underscored the importance of contextual interpretation and statutory consistency in determining eligibility for tax benefits, ultimately upholding the company's claim for a higher development rebate percentage. Case-Laws Income Tax Wed, 13 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25855