https://www.taxtmi.com/caselaws?id=36022 The High Court affirmed the Tribunal's decision in favor of the assessee regarding the entitlement to a rebate of 35% on profits attributable to the manufacture and sale of internal combustion engines, automobile ancillaries, and gears for the assessment year 1965-66. The Court also ruled in favor of the assessee for claiming rebates under sections 80E/80-I for the assessment years 1966-67, 1968-69, and 1969-70, except for relief u/s 80-I for the assessment year 1968-69, where the Court sided with the revenue, emphasizing the need for a positive balance after loss adjustment. en-us Tue, 22 Jan 1980 00:00:00 +0530 Thu, 18 Mar 2010 18:54:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36022 The High Court affirmed the Tribunal's decision in favor of the assessee regarding the entitlement to a rebate of 35% on profits attributable to the manufacture and sale of internal combustion engines, automobile ancillaries, and gears for the assessment year 1965-66. The Court also ruled in favor of the assessee for claiming rebates under sections 80E/80-I for the assessment years 1966-67, 1968-69, and 1969-70, except for relief u/s 80-I for the assessment year 1968-69, where the Court sided with the revenue, emphasizing the need for a positive balance after loss adjustment. Case-Laws Income Tax Tue, 22 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36022