https://www.taxtmi.com/caselaws?id=39768 Finance Act and income-tax relief on dividends received by a general insurance company is applied to the gross dividend actually received, not to dividend reduced by proportionate management expenses, because the relevant provisions contain no express deduction mechanism and special insurance-computation rules do not restrict the relief. The same construction applies to the amended exemption for dividend income under the Income-tax Act, 1961 and to the corresponding surtax provision, so the dividend retains its character as dividend for tax relief purposes and is not brought into surtax under the cited rule. en-us Wed, 19 Jun 1974 00:00:00 +0530 Tue, 20 Apr 2010 12:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39768 Finance Act and income-tax relief on dividends received by a general insurance company is applied to the gross dividend actually received, not to dividend reduced by proportionate management expenses, because the relevant provisions contain no express deduction mechanism and special insurance-computation rules do not restrict the relief. The same construction applies to the amended exemption for dividend income under the Income-tax Act, 1961 and to the corresponding surtax provision, so the dividend retains its character as dividend for tax relief purposes and is not brought into surtax under the cited rule. Case-Laws Income Tax Wed, 19 Jun 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39768