https://www.taxtmi.com/caselaws?id=193186 The Excess Profits Tax Act incorporated only the specified charging clauses of Section 4(1) of the Indian Income-tax Act and did not adopt the third proviso granting a limited foreign-income exemption. As a result, the Rs. 4,500 deduction allowed under that proviso was not available in computing profits chargeable to excess profits tax. The later Act's own charging scheme, provisos and First Schedule showed that the Legislature intended to import the charge only, not the exemption, and a proviso attached to the wider section could not be read into the excess profits tax computation by implication. en-us Thu, 20 Oct 1949 00:00:00 +0530 Sat, 15 Jul 2017 15:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193186 The Excess Profits Tax Act incorporated only the specified charging clauses of Section 4(1) of the Indian Income-tax Act and did not adopt the third proviso granting a limited foreign-income exemption. As a result, the Rs. 4,500 deduction allowed under that proviso was not available in computing profits chargeable to excess profits tax. The later Act's own charging scheme, provisos and First Schedule showed that the Legislature intended to import the charge only, not the exemption, and a proviso attached to the wider section could not be read into the excess profits tax computation by implication. Case-Laws Income Tax Thu, 20 Oct 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193186