https://www.taxtmi.com/caselaws?id=21257 The court ruled in favor of the assessee on all issues, upholding the transfer of development rebate reserve to the general reserve for permissible business purposes, allowing the development rebate, contributions to superannuation and provident funds, and service line charges as permissible deductions. The court emphasized that statutory requirements were met, and specific entries linking the reserve with asset acquisition were not necessary, as long as the reserve was utilized for legitimate business purposes. en-us Mon, 24 Aug 1992 00:00:00 +0530 Sat, 21 Nov 2009 11:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21257 The court ruled in favor of the assessee on all issues, upholding the transfer of development rebate reserve to the general reserve for permissible business purposes, allowing the development rebate, contributions to superannuation and provident funds, and service line charges as permissible deductions. The court emphasized that statutory requirements were met, and specific entries linking the reserve with asset acquisition were not necessary, as long as the reserve was utilized for legitimate business purposes. Case-Laws Income Tax Mon, 24 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21257