https://www.taxtmi.com/caselaws?id=19645 Amounts credited to a dividend reserve, deferred taxation account, and debenture redemption reserve are treated as reserves for capital base computation where their real character shows they are not set apart to meet a known or anticipated liability. The Gujarat High Court noted that the dividend reserve operated as an equalisation reserve and was transferred to general reserves, while the other credits were also moved to general reserve and not used for any liability. Their nomenclature was not decisive; the substance and use of the amounts determined includibility in the capital base. en-us Mon, 07 Feb 1994 00:00:00 +0530 Sat, 07 Nov 2009 16:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19645 Amounts credited to a dividend reserve, deferred taxation account, and debenture redemption reserve are treated as reserves for capital base computation where their real character shows they are not set apart to meet a known or anticipated liability. The Gujarat High Court noted that the dividend reserve operated as an equalisation reserve and was transferred to general reserves, while the other credits were also moved to general reserve and not used for any liability. Their nomenclature was not decisive; the substance and use of the amounts determined includibility in the capital base. Case-Laws Income Tax Mon, 07 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19645