https://www.taxtmi.com/caselaws?id=29517 The Tribunal erred in limiting the carry forward of the development rebate to the amount covered by the reserve created by the assessee. The full unabsorbed development rebate of Rs. 1,05,863 should be carried forward for future set-off, contingent on meeting statutory conditions in subsequent years. The Tribunal incorrectly directed that only the unabsorbed rebate covered by the reserve be carried forward, whereas the entire amount is eligible for carry forward. The creation of the required reserve in future years with positive income will determine the actual allowance of the rebate. en-us Fri, 29 Jan 1982 00:00:00 +0530 Sat, 13 Mar 2010 14:50:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29517 The Tribunal erred in limiting the carry forward of the development rebate to the amount covered by the reserve created by the assessee. The full unabsorbed development rebate of Rs. 1,05,863 should be carried forward for future set-off, contingent on meeting statutory conditions in subsequent years. The Tribunal incorrectly directed that only the unabsorbed rebate covered by the reserve be carried forward, whereas the entire amount is eligible for carry forward. The creation of the required reserve in future years with positive income will determine the actual allowance of the rebate. Case-Laws Income Tax Fri, 29 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29517