1988 (11) TMI 54 - HC - Income Tax

Summary

The High Court of Bombay upheld the decision allowing the assessee's claim for development rebate reserve and deduction, citing the judgment in Indian Oil Corporation Ltd. v. S. Rajagopalan, ITO [1973] 92 ITR 241. Both questions were answered in favor of the assessee. No costs were awarded. (Case citation: 1988 (11) TMI 54 - BOMBAY High Court)