https://www.taxtmi.com/caselaws?id=36453 The High Court clarified the treatment of deductions in computing distributable income under section 104 of the Income-tax Act, 1961. It ruled that the provision for gratuity and bad debt should be deducted, while the capital profit from the sale of a car should not be deducted. This judgment provided guidance on statutory liabilities, bad debts, and capital profits for taxation purposes. en-us Wed, 19 Jul 1978 00:00:00 +0530 Mon, 22 Mar 2010 14:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36453 The High Court clarified the treatment of deductions in computing distributable income under section 104 of the Income-tax Act, 1961. It ruled that the provision for gratuity and bad debt should be deducted, while the capital profit from the sale of a car should not be deducted. This judgment provided guidance on statutory liabilities, bad debts, and capital profits for taxation purposes. Case-Laws Income Tax Wed, 19 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36453