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1980 (9) TMI 39 - HC - Income TaxExtract: .......dering the relevant provisions of the Income-tax Act in this connection and the facts and circumstances of the case, we are of the opinion that the assessee is entitled to development rebate on, the actual cost of the new machinery which was Rs. 9,89,01.7. The Income-tax Officer is directed to allow development rebate on the above sum as per rules.
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