https://www.taxtmi.com/caselaws?id=19106 For surtax capital computation, dividend declared from general reserve after the first day of the previous year reduced the capital base, while excess provision for taxation was treated as a reserve under the Second Schedule. Deductions under Chapter VI-A were held not to attract rule 4 of the Second Schedule, and rule 1(viii) of the First Schedule was applied to exclude gross, not net, dividend. Amounts credited as share premium on amalgamation were includible in capital where, in substance, they represented capital reserve arising from excess net assets over the consideration issued, the real character of the amount prevailing over its book label. en-us Tue, 06 Dec 1994 00:00:00 +0530 Wed, 04 Nov 2009 11:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19106 For surtax capital computation, dividend declared from general reserve after the first day of the previous year reduced the capital base, while excess provision for taxation was treated as a reserve under the Second Schedule. Deductions under Chapter VI-A were held not to attract rule 4 of the Second Schedule, and rule 1(viii) of the First Schedule was applied to exclude gross, not net, dividend. Amounts credited as share premium on amalgamation were includible in capital where, in substance, they represented capital reserve arising from excess net assets over the consideration issued, the real character of the amount prevailing over its book label. Case-Laws Income Tax Tue, 06 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19106