1979 (10) TMI 124 - AT - Income Tax

Summary

The appeal was regarding the allowance of surtax liability of Rs. 5,48,950 as a deduction in computing the total income of the assessee from business. The ITAT Madras confirmed that surtax is not an admissible deduction under section 37 of the IT Act, based on previous Tribunal decisions. The assessee's appeal was dismissed. (Case: Appellate Tribunal ITAT MADRAS-D, Citation: 1979 (10) TMI 124 - ITAT MADRAS-D)