Supreme Court Dismisses Revenue's Appeal, Upholds Inclusion of Share Premium in Paid-Up Capital for Super-Tax Rebate under Finance Acts. Share Premium Account Maintained as Identifiable Separate Account within Reserves Qualifies for Inclusion under Explanation to Paragraph D of Part II of Finance Acts 1956 and 1957, Not Barred by Companies Act 1956.
14 Feb 1969The Allahabad Bank Ltd., a public limited company with paid-up share capital of Rs. 30,50,000, had issued shares at a premium before January 1, 1954, ...
