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1998 (9) TMI 36 - MADRAS HIGH COURTExtract: .......t the subsidy received through the Small Industries Promotion Corporation from the Central Investment Outright Subsidy Scheme should be treated as a reserve and taken into account in computing the capital as per the Second Schedule to the Companies (Profits) Surtax Act, 1964 ? is therefore answered in favour of the assessee and against the Revenue.
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