Supreme Court · 1966 INSC 207 · Decided 7 October 1966
Commissioner of Income-Tax, Gujarat v. Girdhardas & Company Private LTD.
- Court
- Supreme Court of India
- Citation
- 1966 INSC 207 · [1967] 1 S.C.R. 777
- Case number
- CIVIL APPEAL No. 690/1965
- Decided
- 7 October 1966
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2(6A)(c), 66(1)
Headnote
Indian Income-tax Act, 1922, s. 2(6A)(c)-Distribution of accumulared profits on liquidation of company to be treated as dividend--Extent I<> which distribution represents accumulated profit, how to be detennined. By a resolu•ion dated August 23, 1952 it was resolved to wind up the for that purpose. The paid-up capital of the assessee was Rs. 25 lakhs; and on the: date of toro­ mencement of winding up it had an accumulated profit of Rs. 5,34,041. From time to time the liquidator -distributed the assets in his hands an1ong the shareholders. Out of Rs. 15 lakhs
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)