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1997 (11) TMI 69 - ALLAHABAD HIGH COURTExtract: .......rom ingots purchased from the market was manufacturing iron and steel (metal) within the meaning of item No. 1 of the Fifth Schedule to the Income-tax Act, 1961, and was entitled to higher development rebate of 25 per cent. We, therefore, answer the aforesaid question in the affirmative, in favour of the assessee-respondent and against the Revenue.
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