https://www.taxtmi.com/caselaws?id=36316 A provision for taxation is not a reserve, surplus or fund for inclusion in capital under rule 1 of the First Schedule to the Companies (Profits) Surtax Act, 1964, because the Explanation does not expand those terms to cover such a provision. The court followed its earlier view and rejected the assessee's claim on capital computation. However, the same provision may qualify as a fund deductible from the cost of investments under clause (ii) of rule 2 of the Second Schedule. A question of law raised before the Tribunal can still be examined in reference even if not expressly dealt with in its order, and the assessee succeeded on this issue. en-us Fri, 04 Aug 1978 00:00:00 +0530 Sat, 20 Mar 2010 15:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36316 A provision for taxation is not a reserve, surplus or fund for inclusion in capital under rule 1 of the First Schedule to the Companies (Profits) Surtax Act, 1964, because the Explanation does not expand those terms to cover such a provision. The court followed its earlier view and rejected the assessee's claim on capital computation. However, the same provision may qualify as a fund deductible from the cost of investments under clause (ii) of rule 2 of the Second Schedule. A question of law raised before the Tribunal can still be examined in reference even if not expressly dealt with in its order, and the assessee succeeded on this issue. Case-Laws Income Tax Fri, 04 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36316