https://www.taxtmi.com/caselaws?id=58932 Amounts set aside in the balance sheet to meet identifiable doubtful debts and doubtful advances, where the diminution in asset value was already known on the balance-sheet date, are provisions and not reserves. As such, they are excluded from capital computation under the Companies (Profits) Surtax Act, 1964. The earlier orders for other years were not followed because the relevant factual aspect had not been considered there, and the Commissioner's direction treating the sums as reserves was set aside. en-us Fri, 30 Aug 1985 00:00:00 +0530 Wed, 25 Jan 2012 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58932 Amounts set aside in the balance sheet to meet identifiable doubtful debts and doubtful advances, where the diminution in asset value was already known on the balance-sheet date, are provisions and not reserves. As such, they are excluded from capital computation under the Companies (Profits) Surtax Act, 1964. The earlier orders for other years were not followed because the relevant factual aspect had not been considered there, and the Commissioner's direction treating the sums as reserves was set aside. Case-Laws Income Tax Fri, 30 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58932