https://www.taxtmi.com/caselaws?id=29001 Amounts set apart on an ad hoc basis for bad and doubtful debts and retirement benefits were treated as reserves for capital computation under the Super Profits Tax Act, 1963, and were includible accordingly. By contrast, money appropriated out of profits for a proposed second interim dividend, having been earmarked by the directors for distribution and not for business use, was held to be only a provision and not a reserve. The reference was thus answered partly in favour of the assessee and partly against the assessee. en-us Fri, 04 Sep 1981 00:00:00 +0530 Wed, 10 Mar 2010 11:24:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29001 Amounts set apart on an ad hoc basis for bad and doubtful debts and retirement benefits were treated as reserves for capital computation under the Super Profits Tax Act, 1963, and were includible accordingly. By contrast, money appropriated out of profits for a proposed second interim dividend, having been earmarked by the directors for distribution and not for business use, was held to be only a provision and not a reserve. The reference was thus answered partly in favour of the assessee and partly against the assessee. Case-Laws Income Tax Fri, 04 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29001