https://www.taxtmi.com/caselaws?id=23420 Relief granted under section 80J of the Income-tax Act, 1961 does not require a proportionate reduction in the assessee-company's capital computed for surtax under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964. The capital base for surtax purposes remains unreduced merely because corresponding relief was allowed in income-tax assessments, and rule 4 does not mandate any adjustment on that account. The interpretation follows the binding view already taken on the same point and operates in favour of the assessee. en-us Thu, 08 Dec 1988 00:00:00 +0530 Sat, 19 Dec 2009 11:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23420 Relief granted under section 80J of the Income-tax Act, 1961 does not require a proportionate reduction in the assessee-company's capital computed for surtax under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964. The capital base for surtax purposes remains unreduced merely because corresponding relief was allowed in income-tax assessments, and rule 4 does not mandate any adjustment on that account. The interpretation follows the binding view already taken on the same point and operates in favour of the assessee. Case-Laws Income Tax Thu, 08 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23420