https://www.taxtmi.com/caselaws?id=17627 Surtax payable under the Companies (Profits) Surtax Act, 1964 was held not allowable as a deduction in computing total income. The court followed the Supreme Court's settled view, which had affirmed one High Court position and rejected the contrary view, leaving no basis for a different answer on the reference. The legal principle applied is that liability to surtax for the corresponding assessment year cannot be treated as a deductible item in the computation of total income, and the answer was therefore against the assessee. en-us Thu, 17 Oct 1996 00:00:00 +0530 Wed, 23 Sep 2009 17:29:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17627 Surtax payable under the Companies (Profits) Surtax Act, 1964 was held not allowable as a deduction in computing total income. The court followed the Supreme Court's settled view, which had affirmed one High Court position and rejected the contrary view, leaving no basis for a different answer on the reference. The legal principle applied is that liability to surtax for the corresponding assessment year cannot be treated as a deductible item in the computation of total income, and the answer was therefore against the assessee. Case-Laws Income Tax Thu, 17 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17627