https://www.taxtmi.com/caselaws?id=17007 For surtax computation under the Second Schedule to the Companies (Profits) Surtax Act, 1964, dividends declared after the first day of the accounting year were required to be reduced from the capital base because later shareholder appropriation of reserve relates back to the period to which the dividend pertains. On that principle, the amount could not remain part of the reserve available on the relevant valuation date. The reference was answered against the assessee and in favour of the Revenue. en-us Tue, 04 Feb 1997 00:00:00 +0530 Mon, 14 Sep 2009 15:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17007 For surtax computation under the Second Schedule to the Companies (Profits) Surtax Act, 1964, dividends declared after the first day of the accounting year were required to be reduced from the capital base because later shareholder appropriation of reserve relates back to the period to which the dividend pertains. On that principle, the amount could not remain part of the reserve available on the relevant valuation date. The reference was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 04 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17007