https://www.taxtmi.com/caselaws?id=24276 Under the Second Schedule to the Companies (Profits) Surtax Act, reserves for doubtful debts and bonus do not qualify for inclusion in the capital base for statutory deduction, applying Supreme Court principles on the character of reserves. Deductions allowed under sections 80G and 80M of the Income-tax Act are not sums excluded from total income for rule 4 purposes. Surtax computation therefore permits capital-base inclusion and total-income exclusions only where the relevant Schedule and rules specifically allow them. en-us Fri, 25 Nov 1988 00:00:00 +0530 Tue, 19 Jan 2010 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24276 Under the Second Schedule to the Companies (Profits) Surtax Act, reserves for doubtful debts and bonus do not qualify for inclusion in the capital base for statutory deduction, applying Supreme Court principles on the character of reserves. Deductions allowed under sections 80G and 80M of the Income-tax Act are not sums excluded from total income for rule 4 purposes. Surtax computation therefore permits capital-base inclusion and total-income exclusions only where the relevant Schedule and rules specifically allow them. Case-Laws Income Tax Fri, 25 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24276