https://www.taxtmi.com/caselaws?id=39609 Reserve for doubtful debts was held includible in capital computation under the Super Profits Tax Act because the account was not maintained to meet any specific liability and bad debts were charged separately to profit and loss. For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, the exclusion for dividends was construed to apply to gross dividend, not net dividend after management expenses, since the language referred broadly to dividend income and showed no contrary limitation. Both propositions were applied in favour of the assessee. en-us Wed, 26 Jun 1974 00:00:00 +0530 Mon, 19 Apr 2010 11:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39609 Reserve for doubtful debts was held includible in capital computation under the Super Profits Tax Act because the account was not maintained to meet any specific liability and bad debts were charged separately to profit and loss. For surtax computation under rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, the exclusion for dividends was construed to apply to gross dividend, not net dividend after management expenses, since the language referred broadly to dividend income and showed no contrary limitation. Both propositions were applied in favour of the assessee. Case-Laws Income Tax Wed, 26 Jun 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39609