https://www.taxtmi.com/caselaws?id=19229 For computation of capital under rule 2(ii) of the Second Schedule to the Companies (Profits) Surtax Act, 1964, dividend proposed out of general reserve must be deducted from general reserve, and the later authoritative Full Bench view prevails over an earlier contrary decision. The Tribunal was therefore wrong in following the earlier case on that issue. On the treatment of provision for gratuity, the record was insufficient for a final determination, so the matter had to be reconsidered by the Tribunal in the light of the governing Supreme Court ruling on whether an amount set apart for gratuity can be treated as a reserve. en-us Tue, 10 Jan 1995 00:00:00 +0530 Wed, 04 Nov 2009 17:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19229 For computation of capital under rule 2(ii) of the Second Schedule to the Companies (Profits) Surtax Act, 1964, dividend proposed out of general reserve must be deducted from general reserve, and the later authoritative Full Bench view prevails over an earlier contrary decision. The Tribunal was therefore wrong in following the earlier case on that issue. On the treatment of provision for gratuity, the record was insufficient for a final determination, so the matter had to be reconsidered by the Tribunal in the light of the governing Supreme Court ruling on whether an amount set apart for gratuity can be treated as a reserve. Case-Laws Income Tax Tue, 10 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19229