1988 (11) TMI 13

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Full Text of the Document

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....the Revenue. It raises one question for the assessment year 1971-72. It reads thus : "Whether, on the facts and in the circumstances of the case, the Income-tax Officer was justified in withdrawing development rebate of Rs. 35,601 allowed in the original assessment order even though the assessee-company had not created the full amount of development rebate reserve, viz., 75 per cent of the cost....