COMPANIES ACT - 1963 (ACT 179)

    Section - 70 - Meaning of "Income Surplus"

    The income surplus of a company with shares shall be the surplus, as defined in section 69 of this Code, less the amounts attributable to,

    (a) any unrealised appreciation in the value of any asset of the company, other than such an appreciation in the value of any asset as would, under normal accounting principles, be credited to profit and loss account, unless the amount of such appreciation shall have been transferred to stated capital; and

    (b) any balance standing to the credit of the share deals account immediately before the ascertainment of the income surplus.