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1976 (4) TMI 2 - SC - Income TaxBalances in profits and loss accounts, general reserves and provisions for taxation are includible in the computation of accumulated profits because they are the accumulated profits as per the definition of " dividend " in s. 2(6A)(c) - capital appreciation in respect of the lands from which the income was derived as agricultural income and was not taxable in the hands of the company as capital gains would not on distribution be liable to be so taxed as dividend under section 12
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