https://www.taxtmi.com/caselaws?id=38839 An amount set apart to meet an accrued tax liability is a provision, not a reserve, and is excluded from capital computation under the Super Profits Tax Act, 1963. An amount expressly earmarked for proposed dividends is also not a reserve because it is no longer available as business working capital and is intended for shareholder distribution. The article states that both amounts fall outside the reserve base for capital computation, reflecting the distinction between provisions and reserves in commercial accounting and tax law. en-us Thu, 01 Jul 1976 00:00:00 +0530 Fri, 09 Apr 2010 16:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38839 An amount set apart to meet an accrued tax liability is a provision, not a reserve, and is excluded from capital computation under the Super Profits Tax Act, 1963. An amount expressly earmarked for proposed dividends is also not a reserve because it is no longer available as business working capital and is intended for shareholder distribution. The article states that both amounts fall outside the reserve base for capital computation, reflecting the distinction between provisions and reserves in commercial accounting and tax law. Case-Laws Income Tax Thu, 01 Jul 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38839