1996 (6) TMI 108

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.... Rs. 6,394 as per the following calculations:- Assessed income                       19,66,180 Income-tax                            12,38,693                                      -----------                     &....

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....nbsp;                          ------------                                          6,394                                     ------------ 2. The Assessing Officer and on appeal learned CIT(A) did not allow deduction of the surtax while com....

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....y prohibited deduction of wealth-tax in computing total income, the wealth-tax could not be deducted while computing distributable profits also. This decision though given under a different statute does not support the case pleaded by the assessee as clause (b) of sub-section (1) of section 23A is quite similar to clause (b) of sub-section (1) of section 109 of Income-tax Act, 1961 now pressed before us (omitted w.e.f. 1-4-1988) but then in above decision, the Court was not concerned with section 15 of Companies (Profits) Surtax Act. 4. In Molins of India Ltd.'s case which case was later decided by Hon'ble Calcutta High Court, the Court took into account section 15 of the Surtax Act and observed as under at page 33 of the Report:- "If....