https://www.taxtmi.com/caselaws?id=8853 Section 155(5) of the Income-tax Act, 1961 permits recomputation and withdrawal of development rebate for machinery installed after 31 December 1957 where the statutory conditions, including sale within the specified period, are met. Its scope extends to development rebate allowed under corresponding provisions of the 1922 Act, notwithstanding that the original assessment arose under that Act. Rectification remains legally sustainable where the officer has substantive jurisdiction under an applicable provision; an incorrect statutory citation alone does not invalidate the order. en-us Wed, 19 Apr 1972 00:00:00 +0530 Tue, 16 Jun 2009 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8853 Section 155(5) of the Income-tax Act, 1961 permits recomputation and withdrawal of development rebate for machinery installed after 31 December 1957 where the statutory conditions, including sale within the specified period, are met. Its scope extends to development rebate allowed under corresponding provisions of the 1922 Act, notwithstanding that the original assessment arose under that Act. Rectification remains legally sustainable where the officer has substantive jurisdiction under an applicable provision; an incorrect statutory citation alone does not invalidate the order. Case-Laws Income Tax Wed, 19 Apr 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8853