1996 (10) TMI 46 - HC - Income Tax

Summary

The High Court of Himachal Pradesh held that surtax payable by the assessee under the Companies (Profits) Surtax Act, 1964, for the corresponding surtax assessment year cannot be allowed as a deduction in computing its total income. This decision was based on the Supreme Court ruling in Smith Kline and French (India) Ltd. v. CIT [1996] 219 ITR 581. The Tribunal's decision was upheld, and the reference was answered accordingly.