Supreme Court · 1964 INSC 107 · Decided 2 April 1964
Bharat Fire and General Insurance CO. LTD. New Delhi v. The Commissioner of Income Tax, New Delhi
- Court
- Supreme Court of India
- Citation
- 1964 INSC 107 · [1964] 7 S.C.R. 626
- Case number
- CIVIL APPEAL No. 613/1963
- Decided
- 2 April 1964
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 78; Income Tax Act Section 2(6A), 66A(2)
Headnote
2 626 SUPREME COURT REPORTS (1964] BHARAT FIRE AND GENERAL INSURANCE CO. LTD. NEW DELHI v. THE COMMISSIONER OF INCOME TAX, NEW DELHI [K. SUBBA RAO, J.C. SHAH AND S.M. SIKRI, JJ.J Inco-rne Tax-Dividend declared out o.f premitl1ns on shares receii;ed hu a company--Amount vJhether receipt o.f mium and the share premiums so received were kept separate under the head Capital Reserve. In the calendar year ending Decemb2r 31, 1953, the company peid a sum of Rs. 50,787/- as dividend to the apn2llant company, For the year 1954-55, th's sum was taxed in the hands of appellant as dividend by
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