Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1968 (8) TMI 8 - SC - Income Tax
Company failed to declare dividend - company in a general meeting resolved to make available out of its reserve as dividend to the shareholders and to credit the account of each shareholder his respective share therein - Pursuant to that resolution Rs. 23,328 were credited to the account of the appellant who held 1,333 shares of the company - sum of Rs. 23,328 could not be assessed to tax in hands of appellant - Assessee's appeal allowed