https://www.taxtmi.com/caselaws?id=7969 Development rebate on a cheese dyeing plant was conditional on creation of the statutory reserve by debiting 75% of the rebate to the profit and loss account and crediting it to a reserve account when the relevant accounts were made up. A later entry in a subsequent year did not satisfy that requirement. On that basis, the original allowance was contrary to law and the error was treated as apparent from the assessment record, making rectification under section 154 available and supporting withdrawal of the rebate. en-us Fri, 09 Oct 1970 00:00:00 +0530 Thu, 26 Mar 2009 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7969 Development rebate on a cheese dyeing plant was conditional on creation of the statutory reserve by debiting 75% of the rebate to the profit and loss account and crediting it to a reserve account when the relevant accounts were made up. A later entry in a subsequent year did not satisfy that requirement. On that basis, the original allowance was contrary to law and the error was treated as apparent from the assessment record, making rectification under section 154 available and supporting withdrawal of the rebate. Case-Laws Income Tax Fri, 09 Oct 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7969