https://www.taxtmi.com/caselaws?id=25766 A statutory proviso using the phrase "within the meaning of" an Act may be read with the whole statutory scheme to determine whether an entity falls within its scope. On that approach, a State Electricity Board deemed to be a company under the Electricity (Supply) Act, 1948, and treated as having the powers and obligations of a licensee, was covered by the first proviso to section 34(3)(a) of the Income-tax Act, 1961. The reserve condition for development rebate therefore did not apply, and the development rebate claim could be allowed without creating a development rebate reserve. en-us Mon, 19 Oct 1981 00:00:00 +0530 Sat, 30 Jan 2010 17:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25766 A statutory proviso using the phrase "within the meaning of" an Act may be read with the whole statutory scheme to determine whether an entity falls within its scope. On that approach, a State Electricity Board deemed to be a company under the Electricity (Supply) Act, 1948, and treated as having the powers and obligations of a licensee, was covered by the first proviso to section 34(3)(a) of the Income-tax Act, 1961. The reserve condition for development rebate therefore did not apply, and the development rebate claim could be allowed without creating a development rebate reserve. Case-Laws Income Tax Mon, 19 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25766