https://www.taxtmi.com/caselaws?id=21839 Distribution of a development rebate reserve on dissolution of a firm does not amount to utilisation for a non-business purpose under section 155(5)(ii)(c) of the Income-tax Act, 1961, because dissolution and distribution of assets do not change the reserve's business character. On that basis, the development rebate was not treated as wrongly allowed and there was no recomputation of total income under section 155(5). Both referred questions were answered in favour of the assessee. en-us Thu, 21 Mar 1991 00:00:00 +0530 Wed, 02 Dec 2009 11:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21839 Distribution of a development rebate reserve on dissolution of a firm does not amount to utilisation for a non-business purpose under section 155(5)(ii)(c) of the Income-tax Act, 1961, because dissolution and distribution of assets do not change the reserve's business character. On that basis, the development rebate was not treated as wrongly allowed and there was no recomputation of total income under section 155(5). Both referred questions were answered in favour of the assessee. Case-Laws Income Tax Thu, 21 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21839