Dismissing the appeal of the assessee the Court held that , Transfer of asset within 8 years to the retiring partner , denial of benefit of investment allowance/development rebate was justified, since there is neither any evidence or material available on record nor it is the claim of the assessee that the said machinery was utilized by the retiring partner for the balance period to satisfy the mandate of S. 35A of the Act . (AY. 1986 -87 , 1987-88)