https://www.taxtmi.com/caselaws?id=27974 The court ruled in favor of the assessee on various issues, including entitlement to development rebate on new machinery and plant, deductibility of expenses and losses related to the new unit, and the validity of reassessment under Section 147(a) for certain years. The court held that the machinery qualified for the rebate, expenses were deductible, and the reassessment was invalid. It determined that the pipe-casting venture was part of the existing business and allowed specific expenses and losses. The court referred certain questions back to the Tribunal for further consideration. en-us Thu, 08 Jan 1981 00:00:00 +0530 Wed, 17 Feb 2010 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27974 The court ruled in favor of the assessee on various issues, including entitlement to development rebate on new machinery and plant, deductibility of expenses and losses related to the new unit, and the validity of reassessment under Section 147(a) for certain years. The court held that the machinery qualified for the rebate, expenses were deductible, and the reassessment was invalid. It determined that the pipe-casting venture was part of the existing business and allowed specific expenses and losses. The court referred certain questions back to the Tribunal for further consideration. Case-Laws Income Tax Thu, 08 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27974