https://www.taxtmi.com/caselaws?id=38908 Section 34(3)(a) of the Income-tax Act, 1961 was examined on whether the development rebate reserve had been created in compliance with the statutory requirement. The High Court followed its earlier view and the majority approach of other High Courts that the Act does not impose any limitation of time for claiming development rebate, and that the reserve requirement could be treated as satisfied on that basis. The question was answered in the affirmative, and the Appellate Tribunal was held to be right in law. en-us Thu, 09 Dec 1976 00:00:00 +0530 Sat, 10 Apr 2010 13:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38908 Section 34(3)(a) of the Income-tax Act, 1961 was examined on whether the development rebate reserve had been created in compliance with the statutory requirement. The High Court followed its earlier view and the majority approach of other High Courts that the Act does not impose any limitation of time for claiming development rebate, and that the reserve requirement could be treated as satisfied on that basis. The question was answered in the affirmative, and the Appellate Tribunal was held to be right in law. Case-Laws Income Tax Thu, 09 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38908