https://www.taxtmi.com/caselaws?id=39139 Additions made to assess true commercial profits under the proviso to section 13 of the 1922 Act and section 145 of the 1961 Act were treated as part of the profits relevant for applying section 23A of the 1922 Act and section 104 of the 1961 Act. Where the assessee's accounting method did not reflect true commercial profits, and the assessed figures were not shown to be artificial or unsupported, the corrected assessed income could be considered in determining whether there was a distributable surplus. On that basis, the added sums were not excluded from the statutory surplus computation, and the issue was decided for the revenue. en-us Thu, 25 Jul 1974 00:00:00 +0530 Tue, 13 Apr 2010 12:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39139 Additions made to assess true commercial profits under the proviso to section 13 of the 1922 Act and section 145 of the 1961 Act were treated as part of the profits relevant for applying section 23A of the 1922 Act and section 104 of the 1961 Act. Where the assessee's accounting method did not reflect true commercial profits, and the assessed figures were not shown to be artificial or unsupported, the corrected assessed income could be considered in determining whether there was a distributable surplus. On that basis, the added sums were not excluded from the statutory surplus computation, and the issue was decided for the revenue. Case-Laws Income Tax Thu, 25 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39139