https://www.taxtmi.com/caselaws?id=15552 The excess development rebate reserve was held not to form part of capital for computation under the Second Schedule to the Companies (Profits) Surtax Act, 1964. The Kerala HC followed its earlier Bench decisions on the same point and found no basis to depart from them, while holding that Vazir Sultan Tobacco Co. Ltd. did not directly govern the references. The Tribunal's view was therefore upheld, in favour of the Revenue and against the assessee. en-us Thu, 16 Sep 1999 00:00:00 +0530 Tue, 25 Aug 2009 18:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15552 The excess development rebate reserve was held not to form part of capital for computation under the Second Schedule to the Companies (Profits) Surtax Act, 1964. The Kerala HC followed its earlier Bench decisions on the same point and found no basis to depart from them, while holding that Vazir Sultan Tobacco Co. Ltd. did not directly govern the references. The Tribunal's view was therefore upheld, in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 16 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15552