https://www.taxtmi.com/caselaws?id=69190 Development rebate could not be withdrawn merely because the assessee had incurred a loss in the year or had created the reserve for only part of the amount. The cited precedent and CBDT circular supported allowance of the rebate even where the reserve was not made for the full claim, and the partial reserve did not defeat entitlement to the balance relief. It was also clarified that, where the rebate is to be given effect from future profits, no further reserve is required to that extent. The revisionary restriction on the rebate was therefore held unsustainable. en-us Thu, 26 Feb 1976 00:00:00 +0530 Tue, 05 Apr 2011 16:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69190 Development rebate could not be withdrawn merely because the assessee had incurred a loss in the year or had created the reserve for only part of the amount. The cited precedent and CBDT circular supported allowance of the rebate even where the reserve was not made for the full claim, and the partial reserve did not defeat entitlement to the balance relief. It was also clarified that, where the rebate is to be given effect from future profits, no further reserve is required to that extent. The revisionary restriction on the rebate was therefore held unsustainable. Case-Laws Income Tax Thu, 26 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69190