1997 (11) TMI 69

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..... of this court that arose out of its order in 1. T. A. No. 124 (Delhi) of 1979 for the assessment year 1975-76 : "1. Whether the Tribunal was right in holding that the assessee was engaged in the manufacture of iron and steel (metal) within the meaning of item No. I to the Fifth Schedule of the Act ? 2. Whether, on the facts and in the circumstances of the case, the assessee was entitled to dev .....

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..... ntion and the Commissioner's second appeal was rejected by the Tribunal that has referred these questions for opinion of this court at the instance of the Commissioner of Income-tax. We have heard Sri Ashok Kumar, learned counsel for the Commissioner of Income-tax. No one has appeared on behalf of the assessee. Sri Ashok Kumar, learned counsel for the Revenue, brought to our notice a judgmen .....

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..... nd rounds, etc., the manufacturer will be entitled to higher development rebate on the machinery and plant used in the rolling mill and that there was no reason why the same benefit should be denied when the re-rolling is done by other manufacturers. In our view, the reasoning adopted in the aforesaid case by the Supreme Court equally apply to the present case and the Tribunal was right in holding .....

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