TMI Blog1980 (3) TMI 66X X X X Extracts X X X X X X X X Extracts X X X X ..... nd it was also prejudicial to the interests of the revenue. He, therefore, gave an opportunity to the assessee of being heard. The assessee contended that the ITO was justified in allowing the development rebate as the plant and machinery were installed by the assessee for the purposes of manufacturing and producing jute ropes and jute twines. The Commissioner rejected the argument with a finding that the plant and machinery could not be regarded as installed for the purposes of business of manufacture or production of jute ropes and jute twines as the main business of the assessee was production of ropes from materials other than jute or cotton. He also held that the plant and machinery in question must be looked upon as having been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income-tax Act, 1961, read with items 32 and 33 of the Fifth Schedule to the said Act, the assesses would be entitled to higher rate of development rebate on the plant and machinery installed by it during the accounting year relevant to the assessment year under reference ? " The relevant provisions of s. 33 of the I.T. Act, 1961, read thus : " 33. (1)(a) In respect of a new ship or new machinery or plant (other than office appliances or road transport vehicles) which is owned by the assessee and is wholly used for the purposes of the business carried on by him, there shall, in accordance with and subject to the provisions of this section and of section 34, be allowed a deduction, in respect of the previous year in which the ship ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or jute ropes. There is no merit in the arguments of Mr. Bagchi. The word "wholly" has not been used in cl. (B)(i) although it has been used in s. 33(1)(a) and, therefore, this word cannot be read in cl. (B)(i). It is the finding of the Tribunal that the assessee has installed the plant or machinery for the purposes of business of manufacture and production of jute ropes and jute twines. Jute ropes and jute twines are included in item No. 33 of the Fifth Schedule and, therefore, it must be held that the assessee was entitled to the development rebate under cl. (B)(i). The maxim de minimis non curat lex cannot be invoked in the instant case for the obvious reason that under cl. (B)(i) the question of allowability of development reb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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