https://www.taxtmi.com/caselaws?id=61106 For exclusion under clause (viii) of rule 1 of the First Schedule to the Companies (Profits) Surtax Act, 1964, income by way of dividends was construed as gross dividend income, not merely the net amount included in total income, so the exclusion applied on the gross basis. On the connected capital computation under rule 4 of the Second Schedule, the corresponding reduction made on account of the dividend amount excluded from chargeable profits was not sustained on a contrary net-dividend approach, and the prior adjustment was left undisturbed in favour of the assessee. en-us Tue, 15 May 1979 00:00:00 +0530 Mon, 10 Jan 2011 18:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61106 For exclusion under clause (viii) of rule 1 of the First Schedule to the Companies (Profits) Surtax Act, 1964, income by way of dividends was construed as gross dividend income, not merely the net amount included in total income, so the exclusion applied on the gross basis. On the connected capital computation under rule 4 of the Second Schedule, the corresponding reduction made on account of the dividend amount excluded from chargeable profits was not sustained on a contrary net-dividend approach, and the prior adjustment was left undisturbed in favour of the assessee. Case-Laws Income Tax Tue, 15 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61106