https://www.taxtmi.com/caselaws?id=38685 The court held that the assessee was not eligible for development rebate under section 33 of the Income-tax Act, 1961, for lifts and central air-conditioning plant in Nilhat House. It emphasized that the machinery or plant must be used exclusively for the business to qualify for the rebate, interpreting "wholly used" as "used in their entirety." The court ruled in favor of the revenue, stating that unless the machinery is used solely for the business, no development rebate can be allowed. Each party was directed to bear their own costs. en-us Wed, 17 Nov 1976 00:00:00 +0530 Thu, 08 Apr 2010 12:56:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38685 The court held that the assessee was not eligible for development rebate under section 33 of the Income-tax Act, 1961, for lifts and central air-conditioning plant in Nilhat House. It emphasized that the machinery or plant must be used exclusively for the business to qualify for the rebate, interpreting "wholly used" as "used in their entirety." The court ruled in favor of the revenue, stating that unless the machinery is used solely for the business, no development rebate can be allowed. Each party was directed to bear their own costs. Case-Laws Income Tax Wed, 17 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38685