https://www.taxtmi.com/caselaws?id=27212 Amounts deducted under sections 80G, 80L and 80M were treated as part of total income for surtax computation and therefore were not to be reduced from capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, following binding precedent. The proviso to section 2(8) required the statutory deduction to be adjusted proportionately where the previous year was shorter than twelve months, and the adjustment had to be made on the actual broken period rather than by rounding it off to a full nine months. The result reflects proportionate computation on the exact accounting period. en-us Tue, 17 Nov 1981 00:00:00 +0530 Thu, 11 Feb 2010 15:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27212 Amounts deducted under sections 80G, 80L and 80M were treated as part of total income for surtax computation and therefore were not to be reduced from capital under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, following binding precedent. The proviso to section 2(8) required the statutory deduction to be adjusted proportionately where the previous year was shorter than twelve months, and the adjustment had to be made on the actual broken period rather than by rounding it off to a full nine months. The result reflects proportionate computation on the exact accounting period. Case-Laws Income Tax Tue, 17 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27212