Supreme Court · 1971 INSC 252 · Decided 17 September 1971
Commissioner of Income Tax, Bombay v. West Coast Paper Mills LTD.
- Court
- Supreme Court of India
- Citation
- 1971 INSC 252 · [1972] 1 S.C.R. 780
- Case number
- CIVIL APPEAL No. 1344/1971
- Decided
- 17 September 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 18(7)
Headnote
Finance Act, 1959 as aniended by Finance Act 1960-Section - 19(4)-Scope and effect-Whether a con1pany declaring dividends for previous years out of the profits of the accounting year in question, is e'xe111pt fro1n deductinf? tax at source under the section. A 8 The assessee, a public limited out of the profits made in the accounting year ended on June 30, 1960. The assessee did not deduct C any tax at source from the dividends already declared as paid. The assessee contended that the dividends were declared in respect of previous years relevant to the assessment year 1959~60
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