https://www.taxtmi.com/caselaws?id=19590 Amounts standing to the credit of capital redemption reserve were held includible in the capital base, the point being treated as covered by an earlier decision involving the same assessee. For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, only the dividend actually included in the computed total income under the Income-tax Act is deductible, not the gross dividend received. The Explanation to the rule was treated as declaratory and consistent with that construction. The reference was thus disposed of with the first issue in favour of the assessee and the dividend issue in favour of the Revenue. en-us Tue, 11 Feb 1992 00:00:00 +0530 Sat, 07 Nov 2009 11:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19590 Amounts standing to the credit of capital redemption reserve were held includible in the capital base, the point being treated as covered by an earlier decision involving the same assessee. For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, only the dividend actually included in the computed total income under the Income-tax Act is deductible, not the gross dividend received. The Explanation to the rule was treated as declaratory and consistent with that construction. The reference was thus disposed of with the first issue in favour of the assessee and the dividend issue in favour of the Revenue. Case-Laws Income Tax Tue, 11 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19590