https://www.taxtmi.com/caselaws?id=24315 For computing capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, the proportionate amount attributable to relief allowed under section 80J of the Income-tax Act had to be excluded. Relief under section 80J, being a deduction in computing total income, could not be treated as part of the surtax capital base to that extent. The capital was therefore required to be reduced correspondingly, and the standard deduction recomputed on that basis. The assessee succeeded, and the computation was directed to reflect the excluded proportionate effect of the section 80J relief. en-us Thu, 17 Nov 1988 00:00:00 +0530 Tue, 19 Jan 2010 11:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24315 For computing capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, the proportionate amount attributable to relief allowed under section 80J of the Income-tax Act had to be excluded. Relief under section 80J, being a deduction in computing total income, could not be treated as part of the surtax capital base to that extent. The capital was therefore required to be reduced correspondingly, and the standard deduction recomputed on that basis. The assessee succeeded, and the computation was directed to reflect the excluded proportionate effect of the section 80J relief. Case-Laws Income Tax Thu, 17 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24315