https://www.taxtmi.com/circulars?id=8338 Development rebate deduction remains allowable where the credited development rebate reserve exceeds the statutory percentage because excess provisioning does not, by itself, violate the requirement to create a reserve equal to the prescribed percentage; the Board's earlier comment related only to treating such amounts as a "reserve" for capital computation under rule 1 of the Second Schedule to the Super Profits Tax Act and not to denial of the rebate. en-us Thu, 08 Aug 1968 00:00:00 +0530 Thu, 02 Dec 2010 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8338 Development rebate deduction remains allowable where the credited development rebate reserve exceeds the statutory percentage because excess provisioning does not, by itself, violate the requirement to create a reserve equal to the prescribed percentage; the Board's earlier comment related only to treating such amounts as a "reserve" for capital computation under rule 1 of the Second Schedule to the Super Profits Tax Act and not to denial of the rebate. Circulars Income Tax Thu, 08 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8338