TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the reserve for contingencies was to be treated as a reserve for the purpose of computation of capital under the Second Schedule to the Companies (Profits) Surtax Act, 1964 for the assessment year 1975-76.
Analysis: The question was answered by following the assessee's earlier year decision on the same point. The reserve for contingencies was held to fall within the expression "reserve" for capital computation under the Second Schedule.
Conclusion: The Tribunal was justified in including the reserve for contingencies in the computation of capital, and the answer is in favour of the assessee.
TaxTMI 
TaxTMI 
