https://www.taxtmi.com/caselaws?id=38069 The court ruled that the loss on the sale of gas cylinders was not allowable as revenue expenditure or under section 32(1)(iii) of the Income Tax Act, 1961. Additionally, the shortfall in the development rebate reserve account could not be compensated by excess provisions from earlier years, and the full rebate claimed was not permissible. Both issues were decided in favor of the revenue, with no order as to costs. en-us Wed, 08 Jun 1977 00:00:00 +0530 Sat, 03 Apr 2010 10:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38069 The court ruled that the loss on the sale of gas cylinders was not allowable as revenue expenditure or under section 32(1)(iii) of the Income Tax Act, 1961. Additionally, the shortfall in the development rebate reserve account could not be compensated by excess provisions from earlier years, and the full rebate claimed was not permissible. Both issues were decided in favor of the revenue, with no order as to costs. Case-Laws Income Tax Wed, 08 Jun 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38069