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1975 (4) TMI 39 - ITAT COCHINExtract: .......others. So long as it is accepted that it is a business asset and that income arising therefrom is business income, the assessee s claim that the machinery is used in one of the items mentioned in the Fifth Schedule cannot be rejected. We will, therefore, direct the ITO to allow development rebate at the higher percentage. 4. The appeal is allowed.
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