https://www.taxtmi.com/caselaws?id=59241 The High Court upheld the assessee company's qualification as a manufacturer of petrochemicals, directing the Income Tax Officer to allow the development rebate. The Appellate Assistant Commissioner's decision to set aside the assessments for the years 1969-70 to 1972-73 was criticized by the Tribunal for being excessive. The Tribunal instructed the AAC to address specific grounds raised by the assessee and reconsider the development rebate without imposing restrictive guidelines. The Tribunal allowed the appeals for statistical purposes, leading to a reassessment of the years 1970-71 to 1972-73 without the AAC's constraints. en-us Sat, 18 Mar 1978 00:00:00 +0530 Mon, 27 Dec 2010 13:52:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59241 The High Court upheld the assessee company's qualification as a manufacturer of petrochemicals, directing the Income Tax Officer to allow the development rebate. The Appellate Assistant Commissioner's decision to set aside the assessments for the years 1969-70 to 1972-73 was criticized by the Tribunal for being excessive. The Tribunal instructed the AAC to address specific grounds raised by the assessee and reconsider the development rebate without imposing restrictive guidelines. The Tribunal allowed the appeals for statistical purposes, leading to a reassessment of the years 1970-71 to 1972-73 without the AAC's constraints. Case-Laws Income Tax Sat, 18 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59241