https://www.taxtmi.com/acts?id=3555 Section 34 conditions depreciation and development rebate deductions on charging a required portion of the rebate to profit and loss and crediting it to a reserve to be used in the business over eight years, prohibiting use for dividend distribution or remittance abroad; reduced rebate treatment and specified exceptions apply. Disposal of the relevant asset within eight years renders prior allowances wrongly made and invokes section 155(5), subject to exceptions for pre cut off acquisitions, transfers to government or specified corporations, and transfers in amalgamation or succession. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 12:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3555 Section 34 conditions depreciation and development rebate deductions on charging a required portion of the rebate to profit and loss and crediting it to a reserve to be used in the business over eight years, prohibiting use for dividend distribution or remittance abroad; reduced rebate treatment and specified exceptions apply. Disposal of the relevant asset within eight years renders prior allowances wrongly made and invokes section 155(5), subject to exceptions for pre cut off acquisitions, transfers to government or specified corporations, and transfers in amalgamation or succession. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3555