https://www.taxtmi.com/caselaws?id=21590 In computing capital base for surtax, only amounts properly attributable to the relevant previous year could be excluded. The gratuity reserve amount of Rs. 2,128 was not treated as an earlier-year gratuity liability and therefore was not reduced from the capital base for assessment year 1971-72, in favour of the assessee. Rule 4 of the Second Schedule could not be used to diminish the capital base where relief under section 80J had been allowed, again in favour of the assessee. Dividend declared out of general reserve was required to be reduced in computing capital base for assessment year 1972-73, in favour of the Revenue. en-us Tue, 30 Apr 1991 00:00:00 +0530 Wed, 25 Nov 2009 16:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21590 In computing capital base for surtax, only amounts properly attributable to the relevant previous year could be excluded. The gratuity reserve amount of Rs. 2,128 was not treated as an earlier-year gratuity liability and therefore was not reduced from the capital base for assessment year 1971-72, in favour of the assessee. Rule 4 of the Second Schedule could not be used to diminish the capital base where relief under section 80J had been allowed, again in favour of the assessee. Dividend declared out of general reserve was required to be reduced in computing capital base for assessment year 1972-73, in favour of the Revenue. Case-Laws Income Tax Tue, 30 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21590