https://www.taxtmi.com/caselaws?id=38292 The court ruled in favor of the assessee, considering forfeited dividend as a reserve under the Super Profits Tax Act, 1963. However, provision for taxation and proposed dividend were classified as provisions, favoring the revenue. The court emphasized the lack of specific future use for the forfeited dividend fund, distinguishing it from previous cases. The judgment was jointly delivered by two judges, Dipak Kumar Sen and S. C. Deb, both concurring on the decision. en-us Tue, 30 Aug 1977 00:00:00 +0530 Mon, 05 Apr 2010 13:21:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38292 The court ruled in favor of the assessee, considering forfeited dividend as a reserve under the Super Profits Tax Act, 1963. However, provision for taxation and proposed dividend were classified as provisions, favoring the revenue. The court emphasized the lack of specific future use for the forfeited dividend fund, distinguishing it from previous cases. The judgment was jointly delivered by two judges, Dipak Kumar Sen and S. C. Deb, both concurring on the decision. Case-Laws Income Tax Tue, 30 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38292