https://www.taxtmi.com/caselaws?id=20585 Under the Companies (Profits) Surtax Act, deductions under Chapter VI-A of the Income-tax Act do not justify a proportionate reduction of capital base under rule 4 of the Second Schedule, and excess provision for taxation is includible in capital base for surtax computation. For chargeable profits under rule 1(viii) of the First Schedule, the exclusion applies only to the dividend actually included in total income, namely the amount remaining after deductions under sections 80K and 80M, not the gross dividend. The stated position favours the assessee on the first two issues and the Revenue on the dividend-computation issue. en-us Wed, 31 Mar 1993 00:00:00 +0530 Sat, 14 Nov 2009 18:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20585 Under the Companies (Profits) Surtax Act, deductions under Chapter VI-A of the Income-tax Act do not justify a proportionate reduction of capital base under rule 4 of the Second Schedule, and excess provision for taxation is includible in capital base for surtax computation. For chargeable profits under rule 1(viii) of the First Schedule, the exclusion applies only to the dividend actually included in total income, namely the amount remaining after deductions under sections 80K and 80M, not the gross dividend. The stated position favours the assessee on the first two issues and the Revenue on the dividend-computation issue. Case-Laws Income Tax Wed, 31 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20585