https://www.taxtmi.com/caselaws?id=23679 Relief under section 80J of the Income-tax Act is a deduction from income already includible in total income and is not equivalent to income excluded at the threshold under provisions such as section 10. Rule 4 of the Second Schedule to the Companies (Profits) Surtax Act applies only where part of the company's income, profits and gains is not includible in total income. On that basis, section 80J relief does not require corresponding diminution of capital under rule 4, and the prior principle that Chapter VI-A deductions are not income not includible in total income remained undisturbed by the later Supreme Court decision relied on by the Revenue. en-us Mon, 10 Apr 1989 00:00:00 +0530 Wed, 23 Dec 2009 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23679 Relief under section 80J of the Income-tax Act is a deduction from income already includible in total income and is not equivalent to income excluded at the threshold under provisions such as section 10. Rule 4 of the Second Schedule to the Companies (Profits) Surtax Act applies only where part of the company's income, profits and gains is not includible in total income. On that basis, section 80J relief does not require corresponding diminution of capital under rule 4, and the prior principle that Chapter VI-A deductions are not income not includible in total income remained undisturbed by the later Supreme Court decision relied on by the Revenue. Case-Laws Income Tax Mon, 10 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23679