https://www.taxtmi.com/caselaws?id=22737 While computing chargeable profits under the First Schedule to the Companies (Profits) Surtax Act, 1964, the exclusion under rule 2(i)(a) was limited to income-tax attributable to the amount actually included in total income. Because the total income contained only net dividend and not gross dividend, the tax exclusion had to be confined to income-tax payable on the net dividend alone. The analysis treated the issue as one of giving effect to an appellate order rather than any open controversy on dividend exclusion, and the request to require a reference was therefore refused. en-us Mon, 13 Aug 1990 00:00:00 +0530 Sat, 12 Dec 2009 15:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22737 While computing chargeable profits under the First Schedule to the Companies (Profits) Surtax Act, 1964, the exclusion under rule 2(i)(a) was limited to income-tax attributable to the amount actually included in total income. Because the total income contained only net dividend and not gross dividend, the tax exclusion had to be confined to income-tax payable on the net dividend alone. The analysis treated the issue as one of giving effect to an appellate order rather than any open controversy on dividend exclusion, and the request to require a reference was therefore refused. Case-Laws Income Tax Mon, 13 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22737