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1964 (5) TMI 6 - SC - Income TaxWhether the rate applicable to the total income of the said companies was the rate as finally applied after taking into consideration the effect of the Concession Order? Whether the word " rebate " occurring in section 16(2) does not include the relief given to the said companies under the Concession Order for the Concession Order is not concerned with granting rebate but is concerned with the determination of the tax payable? Held that:- We agree with the High Court that though the rate applicable is the rate which is actually applied, rebate, if any, allowed to a company has not to be, as directed by section 16(2), taken into account. Regarding his first contention, we are unable to limit the meaning of the word " rebate " to rebate granted under the Indian Finance Act. The word " rebate " is not qualified and is wide enough to include any rebate which may be granted by other statutory orders. The form of the certificate referred to us which mentions reduction of rate cannot change the meaning of the word " rebate ". In the result, we agree with the High Court that the answer to the question referred should be in the affirmative. Appeal dismissed.
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