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1978 (8) TMI 40 - HC - Income TaxExtract: .......ad ceased to be ships and had become scrap. The purpose of the sale or transfer in our view is not relevant in deciding whether the development rebate allowed would be withdrawn or not. Accordingly, we answer question No. 3 in the affirmative and in favour of the revenue. The reference is disposed of accordingly. There will be no order as to costs.
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