Supreme Court · 1972 INSC 196 · Decided 29 August 1972
Commissioner of Income-Tax, Gujarat v. Vadilal Lallubhai ETC. ETC.
- Court
- Supreme Court of India
- Citation
- 1972 INSC 196 · [1973] 1 S.C.R. 1058
- Case number
- CIVIL APPEAL No. 2348/1969
- Decided
- 29 August 1972
- Bench
- K.S. HEGDE, P. JAGANMOHAN REDDY, HANS RAJ KHANNA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 2(6A)(c)
Headnote
OF INCOME-TAX, GUJARAT V. V ADILAL LALLUBHAI ETC. ETC. August 29, 1972 [K. S. HEGDE, P. JAGANMOHAN REDDY AND H. R. KHANNA, JJ.J Income-Tax Act (l I o/ 1922) ss. 2(6A\ (c), 2(6C) and 44F-Decmed dividend, if income under s. 44F. The assessee sold his share holdings in certain managing agency then on the registers of the com­ panies. They included the persons who had newly purchased the shares. C They were either not liable to pay any income-tax or were liable to pay tax at a rate lower than whan the assessee would have had to pay had he rece.ived the amount distributed.
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