https://www.taxtmi.com/caselaws?id=38755 The court determined that for the assessment year 1965-66, the amount from the dividend equalisation reserve should be treated as a reserve for computing the capital base. For the assessment year 1966-67, the entire amount in the dividend equalisation reserve was included in the computation of capital for surtax purposes. The judgment emphasized the significance of precise accounting practices and compliance with legal provisions in determining the capital base under the Companies (Profits) Surtax Act, 1964 for the respective assessment years. en-us Wed, 11 Aug 1976 00:00:00 +0530 Thu, 08 Apr 2010 17:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38755 The court determined that for the assessment year 1965-66, the amount from the dividend equalisation reserve should be treated as a reserve for computing the capital base. For the assessment year 1966-67, the entire amount in the dividend equalisation reserve was included in the computation of capital for surtax purposes. The judgment emphasized the significance of precise accounting practices and compliance with legal provisions in determining the capital base under the Companies (Profits) Surtax Act, 1964 for the respective assessment years. Case-Laws Income Tax Wed, 11 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38755