https://www.taxtmi.com/caselaws?id=35605 The case involved a dispute over the inclusion of a reserve for gratuity in the computation of capital under the Companies (Profits) Surtax Act, 1964. The Tribunal held that the reserve was earmarked for future gratuity payments and not a free reserve available for other purposes, contrary to the Appellate Assistant Commissioner's decision. The Court, considering the company's past practices and specific reserves, concluded that the reserve was not freely available for future use. The judgment favored the revenue, with each party bearing their own costs. en-us Tue, 22 Sep 1981 00:00:00 +0530 Mon, 15 Mar 2010 14:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35605 The case involved a dispute over the inclusion of a reserve for gratuity in the computation of capital under the Companies (Profits) Surtax Act, 1964. The Tribunal held that the reserve was earmarked for future gratuity payments and not a free reserve available for other purposes, contrary to the Appellate Assistant Commissioner's decision. The Court, considering the company's past practices and specific reserves, concluded that the reserve was not freely available for future use. The judgment favored the revenue, with each party bearing their own costs. Case-Laws Income Tax Tue, 22 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35605