https://www.taxtmi.com/caselaws?id=37668 The High Court held that the unabsorbed development rebate cannot be given priority over the unabsorbed depreciation allowance. The Court emphasized that the development rebate is an incentive for investments and cannot be equated to a business loss. Therefore, the Tribunal's decision to prioritize the depreciation allowance over the development rebate was upheld. en-us Wed, 10 Jan 1979 00:00:00 +0530 Wed, 31 Mar 2010 12:24:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37668 The High Court held that the unabsorbed development rebate cannot be given priority over the unabsorbed depreciation allowance. The Court emphasized that the development rebate is an incentive for investments and cannot be equated to a business loss. Therefore, the Tribunal's decision to prioritize the depreciation allowance over the development rebate was upheld. Case-Laws Income Tax Wed, 10 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37668