https://www.taxtmi.com/caselaws?id=24133 Investment allowance under section 32A(4)(ii) was allowed where the statutory reserve had been created before the assessment was completed, even though it was not created during the accounting year relevant to the assessment year. The Court followed its prior decisions on the same requirement and accepted the Tribunal's view that the timing condition was satisfied by creation of the reserve before assessment. The reference was answered in favour of the assessee and against the Revenue. en-us Tue, 21 Mar 1989 00:00:00 +0530 Sat, 16 Jan 2010 18:09:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24133 Investment allowance under section 32A(4)(ii) was allowed where the statutory reserve had been created before the assessment was completed, even though it was not created during the accounting year relevant to the assessment year. The Court followed its prior decisions on the same requirement and accepted the Tribunal's view that the timing condition was satisfied by creation of the reserve before assessment. The reference was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 21 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24133