https://www.taxtmi.com/caselaws?id=27747 For surtax computation, Chapter VI-A deductions under the Income-tax Act are not treated as income not includible in total income for rule 4 of the Second Schedule, because such amounts are first included in total income and relief is granted later; rule 4 therefore applies only to income excluded from the computation itself, such as Chapter III exemptions. On chargeable profits, rule 1(viii) of the First Schedule was construed to refer to dividends as a gross category, so the deduction was to be computed on gross dividends rather than net dividends. The reference was answered wholly in favour of the assessee. en-us Thu, 06 Oct 1983 00:00:00 +0530 Mon, 15 Feb 2010 17:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27747 For surtax computation, Chapter VI-A deductions under the Income-tax Act are not treated as income not includible in total income for rule 4 of the Second Schedule, because such amounts are first included in total income and relief is granted later; rule 4 therefore applies only to income excluded from the computation itself, such as Chapter III exemptions. On chargeable profits, rule 1(viii) of the First Schedule was construed to refer to dividends as a gross category, so the deduction was to be computed on gross dividends rather than net dividends. The reference was answered wholly in favour of the assessee. Case-Laws Income Tax Thu, 06 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27747