https://www.taxtmi.com/caselaws?id=21372 The Court held that profits determined under section 41(2) are capital returns and not relevant for computing distributable profits under section 104. The Court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue, concluding that the second condition under section 104(2) was not met. The Court referenced previous case law to support its decision, emphasizing that commercial profits, not assessable income, should be considered in determining the reasonableness of dividend distribution. en-us Fri, 23 Oct 1992 00:00:00 +0530 Sat, 21 Nov 2009 18:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21372 The Court held that profits determined under section 41(2) are capital returns and not relevant for computing distributable profits under section 104. The Court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue, concluding that the second condition under section 104(2) was not met. The Court referenced previous case law to support its decision, emphasizing that commercial profits, not assessable income, should be considered in determining the reasonableness of dividend distribution. Case-Laws Income Tax Fri, 23 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21372