TMI Blog1997 (4) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... te at the rate of 35 per cent. - C.A. 2913 OF 1981 - - - Dated:- 23-4-1997 - D. P. WADHWA., K. T. THOMAS. and S. C. AGRAWAL. JUDGMENT This appeal by certificate granted under section 261 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), is directed against the judgment of the Kerala High Court dated February 26, 1980 (see [1980] 126 ITR 382), in Income-tax Reference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that the assessee had not been using the plant for processing goods but had actually let it out. The said order of the Income-tax Officer was affirmed in appeal by the Appellate Assistant Commissioner. On further appeal by the assessee, the Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal") held that the assessee was entitled to development rebate at the rate of 35 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and that the Tribunal was not justified in holding that the assessee is entitled to the grant of development rebate at the rate of 35 per cent. The High Court has rejected the said contention urged on behalf of the Revenue on the ground that while making the assessment for the year concerned, the Income-tax Officer had proceeded on the explicit basis that despite the fact that the freezing plant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt should have taken appropriate action to get the matter rectified either at the Appellate Assistant Commissioner's level or by suo motu revision at the hands of the Commissioner, but no such action was taken and the assessment orders were allowed to become final. The High Court has also mentioned that in respect of the assessment year 1969-70, the Department had filed an appeal before the Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te at the rate of 35 per cent. Dr. Gauri Shankar, learned senior counsel appearing for the Revenue, has sought to raise the question about the eligibility of the assessee for grant of development rebate on the ground that the conditions laid down in section 33(1)(a) are not satisfied. Apart from the reasons aforementioned given by the High Court for rejecting this contention we are also of the v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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