https://www.taxtmi.com/caselaws?id=22817 For surtax capital computation under the Second Schedule, dividend on cumulative preference shares and equity shares was treated as includible in capital, while reduction of capital in proportion to section 80-I relief was not justified on the facts considered. Debenture redemption reserve was treated as not constituting a reserve for surtax purposes, and gratuity reserve counted only to the extent it exceeded the assessee's actual gratuity liability determined on an actuarial or other scientific basis. The increase in liability arising from rupee devaluation was also treated as includible in the capital computation. One component of the gratuity reserve question was left for fresh examination by the Tribunal. en-us Wed, 22 Aug 1990 00:00:00 +0530 Mon, 14 Dec 2009 13:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22817 For surtax capital computation under the Second Schedule, dividend on cumulative preference shares and equity shares was treated as includible in capital, while reduction of capital in proportion to section 80-I relief was not justified on the facts considered. Debenture redemption reserve was treated as not constituting a reserve for surtax purposes, and gratuity reserve counted only to the extent it exceeded the assessee's actual gratuity liability determined on an actuarial or other scientific basis. The increase in liability arising from rupee devaluation was also treated as includible in the capital computation. One component of the gratuity reserve question was left for fresh examination by the Tribunal. Case-Laws Income Tax Wed, 22 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22817