https://www.taxtmi.com/caselaws?id=57975 The Tribunal ruled in favor of the Income-tax Officer's approach to deduct only the dividends included in the total income and not the gross dividends when computing chargeable profits under the Companies (Profits) Surtax Act, 1964. The direction that capital should not be proportionately diminished concerning deductions under Chapter VIA of the Income-tax Act, 1961, was upheld. The provision for doubtful debts was not considered reserves, and the provision for additional sales tax was treated as a reserve for the assessment year 1977-78. The revenue's appeals were partly allowed, with cross objections for certain assessment years dismissed. en-us Thu, 28 May 1987 00:00:00 +0530 Wed, 15 Dec 2010 16:43:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57975 The Tribunal ruled in favor of the Income-tax Officer's approach to deduct only the dividends included in the total income and not the gross dividends when computing chargeable profits under the Companies (Profits) Surtax Act, 1964. The direction that capital should not be proportionately diminished concerning deductions under Chapter VIA of the Income-tax Act, 1961, was upheld. The provision for doubtful debts was not considered reserves, and the provision for additional sales tax was treated as a reserve for the assessment year 1977-78. The revenue's appeals were partly allowed, with cross objections for certain assessment years dismissed. Case-Laws Income Tax Thu, 28 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57975