Supreme Court · 1969 INSC 168 · Decided 7 August 1969
Commissioner of Income-Tax (Central) Calcutta v. India Discount CO. LTD.
- Court
- Supreme Court of India
- Citation
- 1969 INSC 168 · [1970] 1 S.C.R. 767
- Case number
- CIVIL APPEAL No. 2115/1968
- Decided
- 7 August 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 12
Headnote
Income-tax Act (11 of 1922), ss. 10 •nd 12-Shares sold with arrear dividends-Amount of arrear dividends received by purchaser-Whether taxable. · The assessee--e. dealer in shares and securities, purchased ceitain shares on which dividends relating to previous years were in arrears. The the arrear dividends. The assessee received the amount of arrear dividends and he first credited this sum to the profit and Joss appropriation account end thereafter transferred the same to a reserve fund. No adjusttnent was made in the share purchase account on account of the receipt of the
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)