Supreme Court · [1964] 7 S.C.R. 579 · Decided 1 April 1964
J. Dalmia v. Commissioner of Income-Tax, New Delhi
- Court
- Supreme Court of India
- Citation
- [1964] 7 S.C.R. 579
- Case number
- CIVIL APPEAL No. 505/1963
- Decided
- 1 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; Income Tax Act Section 66(1)
Headnote
Company Law-Resolution of Board of Directors-Interim dividend-If creates a debt enforceable against the comvany­ lncome Tax-Payable on the dividend in the year in which it was actually paid, credited, or distributed OT deemed to be :paid-"Paid"-Meaning of-Indian Companies Act, 1913 (11 of 1922), .s. 16(2). The appellant held shares in a company the Board of Directors of which by a resolution dated August 30, 1950 declar­ ed interim dividends. The appellant received a dividend warrant dated December 28, 1950 for a certain amount being the interim dividend in respect of
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