https://www.taxtmi.com/caselaws?id=58003 The Tribunal allowed the appeals, ruling that the replacement of parts in the plant and machinery did not constitute a sale or transfer under section 155(5). It emphasized the legislative intent to ensure the machinery's use for business purposes for at least eight years. Additionally, the Tribunal held that the Assessing Officer lacked jurisdiction under section 154 to withdraw the development rebate due to the debatable nature of the issue. Appeals for subsequent years were also allowed based on similar grounds. en-us Mon, 31 Dec 1990 00:00:00 +0530 Wed, 15 Dec 2010 17:43:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58003 The Tribunal allowed the appeals, ruling that the replacement of parts in the plant and machinery did not constitute a sale or transfer under section 155(5). It emphasized the legislative intent to ensure the machinery's use for business purposes for at least eight years. Additionally, the Tribunal held that the Assessing Officer lacked jurisdiction under section 154 to withdraw the development rebate due to the debatable nature of the issue. Appeals for subsequent years were also allowed based on similar grounds. Case-Laws Income Tax Mon, 31 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58003