1975 (4) TMI 39

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..... The assessee, a firm, is having business in freezing and storage, etc. They have branches at Cochin and Bombay.. In respect of the Bombay branch they had installed during the accounting year concerned freezing and storage plant at a cost of Rs. 1,61,029. In the return they claimed development rebate at the rate of 35 per cent on the ground that the plant and machinery had been installed by them be .....

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..... ion. In view of this matter, he confirmed the order of the ITO. 3. The assessee is on further appeal before us. We are of opinion that they are entitled to the development rebate at 35 per cent. It has been agreed by the ITO that in letting out the plant and machinery at their Bombay branch, the assessee is still doing business. The hire charges received has been assessed only under the head "b .....

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