https://www.taxtmi.com/caselaws?id=36886 For rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964, the dividend adjustment was construed to require exclusion of gross dividend income, not merely the net amount that remained in the assessed total income. The reasoning treated the expression used in the surtax schedule as corresponding to the category of dividend income itself, consistent with the construction adopted for "such income" in section 80M of the Income-tax Act. On that basis, dividend income was to be excluded in full when computing surtax liability. en-us Wed, 07 Nov 1979 00:00:00 +0530 Thu, 25 Mar 2010 12:05:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36886 For rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964, the dividend adjustment was construed to require exclusion of gross dividend income, not merely the net amount that remained in the assessed total income. The reasoning treated the expression used in the surtax schedule as corresponding to the category of dividend income itself, consistent with the construction adopted for "such income" in section 80M of the Income-tax Act. On that basis, dividend income was to be excluded in full when computing surtax liability. Case-Laws Income Tax Wed, 07 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36886