https://www.taxtmi.com/caselaws?id=18405 A debenture redemption reserve was treated as a reserve, not a provision for a known liability, where the assessee retained an enforceable right to use the amount for business purposes until the redemption date. Applying the commercial accountancy distinction between reserve and provision in the surtax context, the amount was therefore includible in the capital base for surtax computation. en-us Thu, 21 Dec 1995 00:00:00 +0530 Wed, 30 Sep 2009 16:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18405 A debenture redemption reserve was treated as a reserve, not a provision for a known liability, where the assessee retained an enforceable right to use the amount for business purposes until the redemption date. Applying the commercial accountancy distinction between reserve and provision in the surtax context, the amount was therefore includible in the capital base for surtax computation. Case-Laws Income Tax Thu, 21 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18405