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1970 (4) TMI 12 - SC - Income TaxBanking Company - Reserve for Development Rebate - appellant-company had transferred a sum from the profit and loss account to the reserve fund. The appellant claimed allowance by way of development rebate under proviso (b) of s. 10(2)(vib) amounting to ₹ 1,37,836 in the computation of its business income - Assessee's appeal dismissed
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