https://www.taxtmi.com/caselaws?id=27382 The High Court upheld the Tribunal's decision that the assessee was not entitled to a higher development rebate under section 33(1)(B)(i)(b) of the Income Tax Act for the assessment year 1975-76. The court ruled that the machinery used by the firm in dockyard construction did not qualify for the rebate as it was not utilized for manufacturing or producing items listed in the Fifth Schedule, emphasizing that shipyard construction does not equate to ship manufacture. The court dismissed the petition in alignment with the Income Tax Act provisions. en-us Tue, 20 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 14:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27382 The High Court upheld the Tribunal's decision that the assessee was not entitled to a higher development rebate under section 33(1)(B)(i)(b) of the Income Tax Act for the assessment year 1975-76. The court ruled that the machinery used by the firm in dockyard construction did not qualify for the rebate as it was not utilized for manufacturing or producing items listed in the Fifth Schedule, emphasizing that shipyard construction does not equate to ship manufacture. The court dismissed the petition in alignment with the Income Tax Act provisions. Case-Laws Income Tax Tue, 20 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27382