https://www.taxtmi.com/caselaws?id=24248 Amounts deductible as donations under section 80G of the Income-tax Act, 1961 were held not to be treated as sums wholly not includible in income for computing capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964. The analysis applied the earlier interpretation that section 80G gives rise to proportionate deduction and that such deductible amounts cannot be excluded from capital computation on the Revenue's proposed basis. The question was therefore answered in favour of the assessee, confirming that the surtax capital calculation must reflect the deduction treatment contemplated by section 80G. en-us Thu, 17 Nov 1988 00:00:00 +0530 Mon, 18 Jan 2010 17:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24248 Amounts deductible as donations under section 80G of the Income-tax Act, 1961 were held not to be treated as sums wholly not includible in income for computing capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964. The analysis applied the earlier interpretation that section 80G gives rise to proportionate deduction and that such deductible amounts cannot be excluded from capital computation on the Revenue's proposed basis. The question was therefore answered in favour of the assessee, confirming that the surtax capital calculation must reflect the deduction treatment contemplated by section 80G. Case-Laws Income Tax Thu, 17 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24248