https://www.taxtmi.com/caselaws?id=27310 The High Court held that the assessee was not entitled to a higher rate of development rebate under section 33(1)(b)(B)(i) of the Income-tax Act for engaging in warping, sizing, and bleaching of cotton yarn. The Court determined that these activities did not amount to the manufacture of textiles as specified in item 32 of the Fifth Schedule. Therefore, the assessee's operations did not result in a new commercial product, and they were not eligible for the rebate. The Court ruled against the assessee on both issues, awarding costs to the Revenue. en-us Mon, 05 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 10:52:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27310 The High Court held that the assessee was not entitled to a higher rate of development rebate under section 33(1)(b)(B)(i) of the Income-tax Act for engaging in warping, sizing, and bleaching of cotton yarn. The Court determined that these activities did not amount to the manufacture of textiles as specified in item 32 of the Fifth Schedule. Therefore, the assessee's operations did not result in a new commercial product, and they were not eligible for the rebate. The Court ruled against the assessee on both issues, awarding costs to the Revenue. Case-Laws Income Tax Mon, 05 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27310