https://www.taxtmi.com/caselaws?id=7540 The Finance Act, 1957 was construed as first requiring income-tax on dividend income to be computed at the rates under the Finance Act, 1956, and then separately increasing that computed tax by surcharge and special surcharge under the First Schedule. The term "income-tax" in the rate-computation provision was read in this limited sense, excluding surcharge components unless expressly included. On that construction, dividend income, being unearned income, attracted special surcharge. The special surcharge was therefore leviable on dividend income despite the reference to the 1956 rates for computing income-tax. en-us Fri, 31 Jan 1969 00:00:00 +0530 Wed, 25 Feb 2009 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7540 The Finance Act, 1957 was construed as first requiring income-tax on dividend income to be computed at the rates under the Finance Act, 1956, and then separately increasing that computed tax by surcharge and special surcharge under the First Schedule. The term "income-tax" in the rate-computation provision was read in this limited sense, excluding surcharge components unless expressly included. On that construction, dividend income, being unearned income, attracted special surcharge. The special surcharge was therefore leviable on dividend income despite the reference to the 1956 rates for computing income-tax. Case-Laws Income Tax Fri, 31 Jan 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7540