https://www.taxtmi.com/caselaws?id=69106 Amounts set apart to the Ramaraju Memorial Fund, shown in the balance-sheet under "Current Liabilities and Provisions", were not a reserve for surtax capital computation because the Second Schedule excludes sums so classified and the amounts were held under a binding obligation rather than as shareholders' funds. The issue was decided against the assessee. Deduction allowed under section 80G did not require any proportionate reduction in capital base under Rule 4 of the Second Schedule, following Supreme Court authority approving the jurisdictional High Court view. That issue was decided against the Revenue. en-us Thu, 30 Dec 1993 00:00:00 +0530 Tue, 05 Apr 2011 12:13:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69106 Amounts set apart to the Ramaraju Memorial Fund, shown in the balance-sheet under "Current Liabilities and Provisions", were not a reserve for surtax capital computation because the Second Schedule excludes sums so classified and the amounts were held under a binding obligation rather than as shareholders' funds. The issue was decided against the assessee. Deduction allowed under section 80G did not require any proportionate reduction in capital base under Rule 4 of the Second Schedule, following Supreme Court authority approving the jurisdictional High Court view. That issue was decided against the Revenue. Case-Laws Income Tax Thu, 30 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69106