1988 (12) TMI 37 - HC - Income Tax

Summary

The High Court of Bombay delivered a judgment on the issue of entitlement to development rebate for plant and machinery installed in earlier years without creating a reserve due to lack of profits. The court referred to a previous decision and ruled in favor of the assessee. No costs were awarded. (Case citation: 1988 (12) TMI 37 - BOMBAY High Court)