https://www.taxtmi.com/caselaws?id=24952 Capital redemption reserve is includible in the capital base for Companies (Profits) Surtax Act purposes because it falls within the balance-sheet category of reserves and is not among the specified exclusions under the Second Schedule; its connection with preference-share redemption also gives it the character of share capital. For the First Schedule exclusion linked to qualifying donations, 50% is computed on the aggregate donations actually made, rather than on the amount ultimately deductible after the statutory ceiling under section 80G. The ceiling restricts the deduction admissible but does not alter the donation amount with reference to which the deduction is allowable. en-us Wed, 22 Jun 1988 00:00:00 +0530 Sat, 23 Jan 2010 13:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24952 Capital redemption reserve is includible in the capital base for Companies (Profits) Surtax Act purposes because it falls within the balance-sheet category of reserves and is not among the specified exclusions under the Second Schedule; its connection with preference-share redemption also gives it the character of share capital. For the First Schedule exclusion linked to qualifying donations, 50% is computed on the aggregate donations actually made, rather than on the amount ultimately deductible after the statutory ceiling under section 80G. The ceiling restricts the deduction admissible but does not alter the donation amount with reference to which the deduction is allowable. Case-Laws Income Tax Wed, 22 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24952