https://www.taxtmi.com/caselaws?id=37405 The High Court of BOMBAY ruled in favor of the assessee in a dispute over the development rebate claimed for the assessment year 1962-63. The Court held that the assessee was entitled to the full claim as the conditions under section 34(3)(a) of the Income-tax Act, 1961 were satisfied. The excess provision from the previous year was considered, leading to the allowance of the entire development rebate claim. The Court directed the revenue to pay the costs of the reference, affirming the assessee's right to the rebate. en-us Tue, 30 Jan 1979 00:00:00 +0530 Mon, 29 Mar 2010 14:06:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37405 The High Court of BOMBAY ruled in favor of the assessee in a dispute over the development rebate claimed for the assessment year 1962-63. The Court held that the assessee was entitled to the full claim as the conditions under section 34(3)(a) of the Income-tax Act, 1961 were satisfied. The excess provision from the previous year was considered, leading to the allowance of the entire development rebate claim. The Court directed the revenue to pay the costs of the reference, affirming the assessee's right to the rebate. Case-Laws Income Tax Tue, 30 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37405