https://www.taxtmi.com/caselaws?id=66645 Under the Companies (Profits) Surtax Act, revisional jurisdiction survives only for assessment items not actually considered and decided in the earlier appeal, because merger does not extend to untouched matters; the revision was therefore maintainable on those items. The increase in rupee value of sterling balances on devaluation was treated as a real accretion in an existing foreign currency asset, not a reserve created by revaluation, so the exclusion in Explanation 1 to Rule 2 of the Second Schedule did not apply. A debit balance in miscellaneous expenditure account was excluded from capital, as it represented spent expenditure rather than uncommitted reserves. en-us Tue, 18 Mar 1986 00:00:00 +0530 Wed, 25 Jan 2012 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66645 Under the Companies (Profits) Surtax Act, revisional jurisdiction survives only for assessment items not actually considered and decided in the earlier appeal, because merger does not extend to untouched matters; the revision was therefore maintainable on those items. The increase in rupee value of sterling balances on devaluation was treated as a real accretion in an existing foreign currency asset, not a reserve created by revaluation, so the exclusion in Explanation 1 to Rule 2 of the Second Schedule did not apply. A debit balance in miscellaneous expenditure account was excluded from capital, as it represented spent expenditure rather than uncommitted reserves. Case-Laws Income Tax Tue, 18 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66645