https://www.taxtmi.com/caselaws?id=16598 The High Court held that the assessee was not entitled to the development rebate and investment allowance as the necessary reserve was not created within the required timeframe, i.e., before the assessment order. The Tribunal's decision to allow the rebate based on subsequent amendments was overturned, reaffirming the principle that statutory requirements must be met at the time of assessment. The tax case was disposed of with no order as to costs. en-us Wed, 25 Mar 1998 00:00:00 +0530 Tue, 08 Sep 2009 17:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16598 The High Court held that the assessee was not entitled to the development rebate and investment allowance as the necessary reserve was not created within the required timeframe, i.e., before the assessment order. The Tribunal's decision to allow the rebate based on subsequent amendments was overturned, reaffirming the principle that statutory requirements must be met at the time of assessment. The tax case was disposed of with no order as to costs. Case-Laws Income Tax Wed, 25 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16598