https://www.taxtmi.com/caselaws?id=21621 For surtax computation under the Companies (Profits) Surtax Act, 1964, dividend declared after the first day of the relevant previous year had to be deducted from the balance of general reserve on that date in line with the governing Supreme Court principle. The debenture redemption reserve and gratuity reserve were also treated as reserves includible in capital, but the gratuity reserve qualified only to the extent it exceeded the actuarially determined gratuity liability. The stated position therefore favoured Revenue treatment of both issues, subject to verifying any excess in the gratuity reserve before giving effect to the computation. en-us Tue, 30 Apr 1991 00:00:00 +0530 Thu, 26 Nov 2009 11:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21621 For surtax computation under the Companies (Profits) Surtax Act, 1964, dividend declared after the first day of the relevant previous year had to be deducted from the balance of general reserve on that date in line with the governing Supreme Court principle. The debenture redemption reserve and gratuity reserve were also treated as reserves includible in capital, but the gratuity reserve qualified only to the extent it exceeded the actuarially determined gratuity liability. The stated position therefore favoured Revenue treatment of both issues, subject to verifying any excess in the gratuity reserve before giving effect to the computation. Case-Laws Income Tax Tue, 30 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21621