https://www.taxtmi.com/caselaws?id=23313 The court ruled in favor of the Revenue, holding that the dividend declared from the general reserve was to be included in computing the capital for statutory deduction under the Companies (Profits) Surtax Act, 1964. Despite the assessee's argument that the dividend was from the general reserve of earlier years, the court found no evidence to support this claim. Emphasizing that dividends are typically paid from current income, the court concluded that the dividend in question was indeed distributed from the general reserve of the current year, as per the Supreme Court precedent. en-us Mon, 25 Sep 1989 00:00:00 +0530 Fri, 18 Dec 2009 12:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23313 The court ruled in favor of the Revenue, holding that the dividend declared from the general reserve was to be included in computing the capital for statutory deduction under the Companies (Profits) Surtax Act, 1964. Despite the assessee's argument that the dividend was from the general reserve of earlier years, the court found no evidence to support this claim. Emphasizing that dividends are typically paid from current income, the court concluded that the dividend in question was indeed distributed from the general reserve of the current year, as per the Supreme Court precedent. Case-Laws Income Tax Mon, 25 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23313