https://www.taxtmi.com/caselaws?id=37674 The High Court upheld the Tribunal's decisions on both issues. It found that the Tribunal did not misdirect itself regarding the reasonableness of salaries under section 40(c) and correctly upheld the disallowance of the development rebate, as the machinery was not intended for hiring out as a business activity. Both questions were answered in favor of the revenue and against the assessee. en-us Mon, 27 Nov 1978 00:00:00 +0530 Mon, 18 Dec 2017 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37674 The High Court upheld the Tribunal's decisions on both issues. It found that the Tribunal did not misdirect itself regarding the reasonableness of salaries under section 40(c) and correctly upheld the disallowance of the development rebate, as the machinery was not intended for hiring out as a business activity. Both questions were answered in favor of the revenue and against the assessee. Case-Laws Income Tax Mon, 27 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37674