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1988 (11) TMI 9 - BOMBAY HIGH COURTExtract: .......t the assessee had not created any development rebate reserve during the relevant previous year as contemplated by section 34(3)(a) of the Income-tax Act, 1961 ? The question is answered in the affirmative and in favour of the assessee having regard to the judgment of this court in Indian Oil Corporation Ltd. v. S. Rajagopalan, ITO 1973 92 ITR 241.
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