https://www.taxtmi.com/circulars?id=4661 The Board states that the reserve condition in section 34(3)(a) for allowance of the development rebate is satisfied if the accumulated reserve attributable to the specific machinery or plant, created in the year of installation/use and/or in subsequent years, equals the required proportion of the rebate actually allowed in the year(s) of allowance; pending assessments and appeals should be completed or reviewed on this basis. en-us Wed, 11 Jul 1979 00:00:00 +0530 Fri, 01 Aug 2008 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4661 The Board states that the reserve condition in section 34(3)(a) for allowance of the development rebate is satisfied if the accumulated reserve attributable to the specific machinery or plant, created in the year of installation/use and/or in subsequent years, equals the required proportion of the rebate actually allowed in the year(s) of allowance; pending assessments and appeals should be completed or reviewed on this basis. Circulars Income Tax Wed, 11 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4661