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1972 (6) TMI 15 - HC - Income Tax"Whether Tribunal is justified in law in holding that the payment of a larger dividend would be unreasonable and in cancelling the Income-tax Officer's orders under section 104 of the Income-tax Act, 1961,?" - It is unreasonable to reckon available surplus for distribution as dividend ignoring bad and doubtful debts and advances made. If these are also taken into account, the dividend distributed satisfies even the percentage provided in section 109(4). In any view of the matter, it is impossible to hold that the Income-tax Officer was not in error in thinking that it was not unreasonable to insist that there should have been a higher percentage of dividend declared
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