https://www.taxtmi.com/caselaws?id=19555 For surtax capital computation, a reserve for bad and doubtful debts qualifies as a reserve and is included in capital. Declared dividends sourced from the general reserve must be deducted from that reserve when computing capital. These principles apply settled Supreme Court precedent and determine the respective treatment of reserves and declared dividends under the surtax scheme. en-us Fri, 29 Apr 1994 00:00:00 +0530 Sat, 07 Nov 2009 10:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19555 For surtax capital computation, a reserve for bad and doubtful debts qualifies as a reserve and is included in capital. Declared dividends sourced from the general reserve must be deducted from that reserve when computing capital. These principles apply settled Supreme Court precedent and determine the respective treatment of reserves and declared dividends under the surtax scheme. Case-Laws Income Tax Fri, 29 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19555