https://www.taxtmi.com/caselaws?id=306302 The High Court ruled in favor of the Revenue, stating that the debenture redemption reserve should be treated as a provision and not included in the capital computation for surtax purposes. However, the Court directed the Tribunal to reassess the matter to determine if any excess amount beyond the known liability could be considered as a reserve and included in the capital computation. en-us Wed, 05 Nov 1997 00:00:00 +0530 Fri, 20 Jan 2023 16:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306302 The High Court ruled in favor of the Revenue, stating that the debenture redemption reserve should be treated as a provision and not included in the capital computation for surtax purposes. However, the Court directed the Tribunal to reassess the matter to determine if any excess amount beyond the known liability could be considered as a reserve and included in the capital computation. Case-Laws Income Tax Wed, 05 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306302