https://www.taxtmi.com/caselaws?id=36664 The High Court of Calcutta ruled in favor of the assessee, affirming their entitlement to development rebate under section 33(1)(b)(B)(i) of the Income-tax Act, 1961 for plant and machinery installed for manufacturing jute ropes and twines. The Court rejected the revenue's argument based on the de minimis principle and emphasized that the absence of the term "wholly" in the relevant clause supported the assessee's claim. The judgment clarified that the volume of production did not affect eligibility for the rebate, and both judges concurred on the outcome. en-us Wed, 12 Mar 1980 00:00:00 +0530 Tue, 23 Mar 2010 17:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36664 The High Court of Calcutta ruled in favor of the assessee, affirming their entitlement to development rebate under section 33(1)(b)(B)(i) of the Income-tax Act, 1961 for plant and machinery installed for manufacturing jute ropes and twines. The Court rejected the revenue's argument based on the de minimis principle and emphasized that the absence of the term "wholly" in the relevant clause supported the assessee's claim. The judgment clarified that the volume of production did not affect eligibility for the rebate, and both judges concurred on the outcome. Case-Laws Income Tax Wed, 12 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36664