2015 (1) TMI 1218 - BOMBAY HIGH COURT

Unclaimed dividend - method of accounting - Held that:- Unclaimed dividend in question amounts to excess provisions for dividend made by the Assessee on an earlier occasion which has been reversed by the Assessee in the year under consideration and transferred to a reserve account. The provisions for dividend made earlier was not a charge action profits but it was appropriation of the profits available post taxation.