On page 13 of the book "An introduction to invariants and moduli" of Mukai http://catdir.loc.gov/catdir/samples/cam033/2002023422.pdf there is a mistake, in the end of the proof of Proposition 1.9. It seems to me that this proof can not be fixed, without using the notion of Noetherian rings and Hilbert basis theorem.
The question is: Can this proof be fixed, without using commutative algebra -- i.e., by the elementary reasoning that Mukai is using there?
I reproduce here the proof from the book for completeness. $S$ is the ring of polynomials, $G$ a group, $S^G$ is the ring of invariants
Proposition. If $S^G$ is generated by homogeneous polynomials $f_1,...,f_r$ of degrees $d_1,...,d_r$, then the Hilbert series of $S^G$ is the power series expansion at $t=0$ of a rational function $$P(t)=\frac{F(t)}{(1-t^{d_1})...(1-t^{d_r})}$$ for some $F(t)\in \mathbb Z[t]$.
Proof. We use induction on $r$, observing that when $r=1$, the ring $S^G$ is just $\mathbb C[f_1]$ with the Hilbert series $$P(t)=1+t^{d_1}+t^{2d_1}+...=\frac{1}{1-t^{d_1}}.$$ For $r>1$ consider the injective complex linear map $S^G\to S^G$ defined by $h\to f_rh$. Denote the image by $R\subset S^G$ and consider the Hilbert series for the graded rings $R$ and $S^G/R$. Since $R$ and $S^G/R$ are generated by homogeneous elements, we have $$P_{S^G}(t)=P_{R}(t)+P_{S^G/R}(t).$$ On the other hand, $dim(S^G\cap S_d)=dim(R\cap S_{d+d_r})$, so that $P_R(t)=t^{d_r}P_{S^G}(t)$, and hence $$P_{S^G}(t)=\frac{P_{S^G/R}(t)}{1-t^{d_r}}.$$ But $S^G/R$ is isomorphic to the subring of $S$ generated by the polynomials $f_1,...,f_{r-1}$, and hence by the induction hypothesis $P_{S^G/R}(t)=F(t)/(1-t^{d_1})...(1-t^{d_{r-1}})$ for some $F(t)\in \mathbb Z[t]$...
Mistake: It is not true that $S^G/R$ is isomorphic to the subring of $S$ generated by polynomials $f_1,...,f_{r-1}$. For example consider $\mathbb C^2$ with action $(x,y)\to (-x,-y)$. Then let $f_1=x^2$, $f_2=y^2$, $f_3=xy$.
Motiviation of this question. Of course this proposition is a partial case of Hilbert-Serre theorem, proven for example at the end of Atiyah-Macdonald. But the point of the introduction in the above book is that one does not use any result of commutative algebra.

