https://www.taxtmi.com/caselaws?id=24087 For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, the dividend exclusion operated on the gross dividend, not the net dividend, because the statutory deduction applies to the dividend amount as a whole. For rule 4 of the Second Schedule, deductions under sections 80K and 80M of the Income-tax Act did not convert those amounts into sums not includible in total income, as Chapter VI-A deductions do not alter the character of the sums for capital-employed computation. Both issues were answered for the assessee. en-us Thu, 01 Dec 1988 00:00:00 +0530 Sat, 16 Jan 2010 15:34:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24087 For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, the dividend exclusion operated on the gross dividend, not the net dividend, because the statutory deduction applies to the dividend amount as a whole. For rule 4 of the Second Schedule, deductions under sections 80K and 80M of the Income-tax Act did not convert those amounts into sums not includible in total income, as Chapter VI-A deductions do not alter the character of the sums for capital-employed computation. Both issues were answered for the assessee. Case-Laws Income Tax Thu, 01 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24087