https://www.taxtmi.com/caselaws?id=29251 The court ruled in favor of the assessee, affirming their entitlement to claim the development rebate despite creating a reserve after completing accounts but before filing a revised return. The court emphasized the permissibility of creating the reserve account post filing the return but before assessment for claiming the rebate, citing relevant statutory provisions and case law. The court's decision aligned with the Allahabad High Court's position, allowing the assessee to amend accounts and claim the rebate before assessment, ultimately granting the claim for deduction on account of development rebate. en-us Mon, 08 Sep 1980 00:00:00 +0530 Thu, 11 Mar 2010 16:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29251 The court ruled in favor of the assessee, affirming their entitlement to claim the development rebate despite creating a reserve after completing accounts but before filing a revised return. The court emphasized the permissibility of creating the reserve account post filing the return but before assessment for claiming the rebate, citing relevant statutory provisions and case law. The court's decision aligned with the Allahabad High Court's position, allowing the assessee to amend accounts and claim the rebate before assessment, ultimately granting the claim for deduction on account of development rebate. Case-Laws Income Tax Mon, 08 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29251