https://www.taxtmi.com/caselaws?id=27486 Capitalisation of reserves by issue of bonus shares was treated as a composite adjustment in the capital computation under the Surtax Schedule, so the corresponding depletion of reserves could not be ignored when applying rule 3. On that reading, the increase in paid-up share capital was not includible in the capital base, and the original inclusion was treated as an apparent mistake because it arose from misreading the scheme of the Schedule. The error was therefore held capable of rectification under section 13, and the Revenue's position was upheld on both issues. en-us Tue, 19 Feb 1985 00:00:00 +0530 Sat, 13 Feb 2010 11:26:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27486 Capitalisation of reserves by issue of bonus shares was treated as a composite adjustment in the capital computation under the Surtax Schedule, so the corresponding depletion of reserves could not be ignored when applying rule 3. On that reading, the increase in paid-up share capital was not includible in the capital base, and the original inclusion was treated as an apparent mistake because it arose from misreading the scheme of the Schedule. The error was therefore held capable of rectification under section 13, and the Revenue's position was upheld on both issues. Case-Laws Income Tax Tue, 19 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27486