1989 (1) TMI 41 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled in favor of the assessee's entitlement to development rebate based on the creation of a reserve account before the completion of assessment. The court cited previous cases supporting the assessee's right to make entries for the reserve at any time before assessment completion. The Tribunal's decision was upheld, and the reference was disposed of with no costs.