https://www.taxtmi.com/caselaws?id=28885 The High Court of Gujarat held that manufacturing wires from special steel did not qualify for a higher development rebate rate intended for the manufacture of special steel itself, as per section 33(1)(b)(B) of the Income Tax Act, 1961. The court emphasized that to be eligible for the rebate, the end-product must match the specific article listed in the Fifth Schedule, focusing on the actual product manufactured, not products made from the specified material. The judgment ruled against the assessee, stating that processing special steel into wires did not meet the criteria for claiming the higher development rebate rate for special steel manufacturing. en-us Tue, 16 Jun 1981 00:00:00 +0530 Mon, 08 Mar 2010 13:28:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28885 The High Court of Gujarat held that manufacturing wires from special steel did not qualify for a higher development rebate rate intended for the manufacture of special steel itself, as per section 33(1)(b)(B) of the Income Tax Act, 1961. The court emphasized that to be eligible for the rebate, the end-product must match the specific article listed in the Fifth Schedule, focusing on the actual product manufactured, not products made from the specified material. The judgment ruled against the assessee, stating that processing special steel into wires did not meet the criteria for claiming the higher development rebate rate for special steel manufacturing. Case-Laws Income Tax Tue, 16 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28885