https://www.taxtmi.com/caselaws?id=40288 Rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964 was construed to require deduction with reference to dividends as they enter total income in net form, rather than on gross dividends. The Supreme Court affirmed the Delhi High Court's interpretation and followed the earlier construction of the analogous provision. The assessee's contention that the deduction should be computed on gross dividends was rejected, and the issue was answered against the assessee and in favour of the Revenue. en-us Wed, 01 Nov 2000 00:00:00 +0530 Mon, 26 Apr 2010 17:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40288 Rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964 was construed to require deduction with reference to dividends as they enter total income in net form, rather than on gross dividends. The Supreme Court affirmed the Delhi High Court's interpretation and followed the earlier construction of the analogous provision. The assessee's contention that the deduction should be computed on gross dividends was rejected, and the issue was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Wed, 01 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40288