Supreme Court · 1962 INSC 160 · Decided 19 April 1962
Kishinchand Chellaram v. Commissioner of Income-Tax Central Bombay
- Court
- Supreme Court of India
- Citation
- 1962 INSC 160 · [1963] 2 S.C.R. 268
- Case number
- CIVIL APPEAL No. 462/1960
- Decided
- 19 April 1962
- Bench
- S.K. DAS, M. HIDAYATULLAH, J.C. SHAH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
OOURT FEPORTS [1963] KISHINCHAND CHELLARAM v. COMMISSIONER OF INOOME-TAX CENT HAL BOMBAY ' (S. K. DAS, M. liIDAYATULLAH and J.C. SHAH, JJ.) lnC<>fM Tax- Dit-idend declared by company inadvtr· u!'Uy wilohut prodding for taxation--Can the character of dividend be altered to a loan by including Extra Pro6ts Tax. The dividends so dec­ lared were credited in the books of the compony to the accounts of each of the share-holders. Share-holders in their return for the relevant assessment year included the amounts credited to them in the company's books of account. Payment
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