https://www.taxtmi.com/caselaws?id=19253 For surtax computation under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, the capital base was to be proportionately reduced by deductions allowed under Chapter VI-A, following binding precedent, and the issue was answered in favour of the assessee. For rule 1(vii) of the First Schedule, only donations actually qualifying for deduction under section 80G of the Income-tax Act, 1961 could be taken into account; the gross total of donations was not the relevant figure because the exclusion depends on the statutory limits and conditions attached to section 80G, and this issue was answered in favour of the Revenue. en-us Thu, 24 Nov 1994 00:00:00 +0530 Thu, 05 Nov 2009 10:07:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19253 For surtax computation under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, the capital base was to be proportionately reduced by deductions allowed under Chapter VI-A, following binding precedent, and the issue was answered in favour of the assessee. For rule 1(vii) of the First Schedule, only donations actually qualifying for deduction under section 80G of the Income-tax Act, 1961 could be taken into account; the gross total of donations was not the relevant figure because the exclusion depends on the statutory limits and conditions attached to section 80G, and this issue was answered in favour of the Revenue. Case-Laws Income Tax Thu, 24 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19253