Development rebate admissibility preserved where reserve exceeds statutory percentage provided statutory reserve requirement is met. The allowance of a development rebate is not to be denied merely because the amount credited to the development rebate reserve exceeds the statutory percentage; the Board's earlier observation about reserve treatment related solely to capital computation for super profits tax and did not affect the admissibility of the rebate where the statutory reserve requirement is met.
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Provisions expressly mentioned in the judgment/order text.
Development rebate admissibility preserved where reserve exceeds statutory percentage provided statutory reserve requirement is met.
The allowance of a development rebate is not to be denied merely because the amount credited to the development rebate reserve exceeds the statutory percentage; the Board's earlier observation about reserve treatment related solely to capital computation for super profits tax and did not affect the admissibility of the rebate where the statutory reserve requirement is met.
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