1982 (5) TMI 62 - AT - Income Tax

Summary

The Appellate Tribunal ITAT BOMBAY-B allowed the assessee's claim for development rebate on cleavage condenser and refrigerator condenser as they were received before 1-6-1975 and ready for use. The Tribunal held that the machinery should be treated as put into use when it is ready for use, not when actually used.