https://www.taxtmi.com/caselaws?id=70631 The Tribunal ruled in favor of the appellant, holding that the transfer of assets and liabilities from the Corporation to the Federation was compliant with the Income Tax Act. It found that the transfer was conducted through the Government of Tamil Nadu, as supported by Government Orders and annual accounts. The Tribunal concluded that the withdrawal of development rebate and investment allowance by the ITO was unjustified, as there was no violation of relevant provisions. Consequently, the Tribunal allowed the appeals and revoked the ITO's orders under Section 155(5)(4A) of the Act. en-us Tue, 31 May 1988 00:00:00 +0530 Mon, 18 Apr 2011 12:01:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70631 The Tribunal ruled in favor of the appellant, holding that the transfer of assets and liabilities from the Corporation to the Federation was compliant with the Income Tax Act. It found that the transfer was conducted through the Government of Tamil Nadu, as supported by Government Orders and annual accounts. The Tribunal concluded that the withdrawal of development rebate and investment allowance by the ITO was unjustified, as there was no violation of relevant provisions. Consequently, the Tribunal allowed the appeals and revoked the ITO's orders under Section 155(5)(4A) of the Act. Case-Laws Income Tax Tue, 31 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70631