https://www.taxtmi.com/caselaws?id=7411 An amendment deemed to commence from 1 April 1960 was treated as part of the law in force for the relevant assessment year, so the proviso excluding office appliances and road transport vehicles from development rebate applied to trucks purchased in the previous year. In income-tax assessments, the law applicable on the first day of the assessment year ordinarily governs the allowance, even if the expenditure or income arose earlier. On that basis, no vested right to development rebate could survive contrary to the amended provision, and the claim to rebate on the trucks failed. en-us Mon, 10 Jul 1967 00:00:00 +0530 Thu, 19 Feb 2009 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7411 An amendment deemed to commence from 1 April 1960 was treated as part of the law in force for the relevant assessment year, so the proviso excluding office appliances and road transport vehicles from development rebate applied to trucks purchased in the previous year. In income-tax assessments, the law applicable on the first day of the assessment year ordinarily governs the allowance, even if the expenditure or income arose earlier. On that basis, no vested right to development rebate could survive contrary to the amended provision, and the claim to rebate on the trucks failed. Case-Laws Income Tax Mon, 10 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7411