https://www.taxtmi.com/caselaws?id=36132 Rule 1(x) of the First Schedule to the Super Profits Tax Act, 1963 is a self-contained exclusion for qualifying non-resident companies, and its scope is wide enough to cover interest on Government securities without being limited by rule 1(vi). The exclusion is applied to the gross interest received from the specified sources, and the clause does not require reduction by the whole of the interest paid on borrowings or by related management and other expenses unless the provision itself so provides. On that construction, the exclusions claimed by the assessee were upheld. en-us Tue, 30 Jan 1979 00:00:00 +0530 Fri, 19 Mar 2010 14:34:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36132 Rule 1(x) of the First Schedule to the Super Profits Tax Act, 1963 is a self-contained exclusion for qualifying non-resident companies, and its scope is wide enough to cover interest on Government securities without being limited by rule 1(vi). The exclusion is applied to the gross interest received from the specified sources, and the clause does not require reduction by the whole of the interest paid on borrowings or by related management and other expenses unless the provision itself so provides. On that construction, the exclusions claimed by the assessee were upheld. Case-Laws Income Tax Tue, 30 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36132