1996 (8) TMI 12

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....KKACHALAM J.---In compliance with the directions of this court given in T. C. P. Nos. 26 and 27 of 1980, dated January 5, 1981, the Tribunal referred the following two common questions for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, and having regard to the provisions of Explanation to rule 1 of the Second Schedule to the Companies (Profits) Surta....

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.... to the provisions of Explanation to rule 1 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, the Appellate Tribunal was correct in holding that Rs. 3,70,000 and Rs. 2,59,000 for the assessment years 1972-73 and 1973-74 representing dividends declared should not be deducted from the capital for the purpose of surtax assessment ?" A similar question came up for consideration be....