https://www.taxtmi.com/caselaws?id=49275 The Supreme Court affirmed the High Court's decision, rejecting the appellant's arguments on the interpretation of section 10(2)(vib) of the Income-tax Act and the nature of the transaction. The court held that the transfer of assets to a partnership constituted a sale under the Sale of Goods Act and fell within the provision, leading to the denial of the development rebate claimed by the company. The judgment clarified the application of Income-tax Act provisions and their impact on development rebates claimed by assessees, emphasizing uniform application and non-discrimination. en-us Wed, 06 Oct 1965 00:00:00 +0530 Tue, 19 Aug 2014 19:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49275 The Supreme Court affirmed the High Court's decision, rejecting the appellant's arguments on the interpretation of section 10(2)(vib) of the Income-tax Act and the nature of the transaction. The court held that the transfer of assets to a partnership constituted a sale under the Sale of Goods Act and fell within the provision, leading to the denial of the development rebate claimed by the company. The judgment clarified the application of Income-tax Act provisions and their impact on development rebates claimed by assessees, emphasizing uniform application and non-discrimination. Case-Laws Income Tax Wed, 06 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49275