Supreme Court · 1997 INSC 104 · Decided 4 February 1997
The Commissioner of Income-Tax, Madras v. Urmila Ramesh ETC.
- Court
- Supreme Court of India
- Citation
- 1997 INSC 104 · [1997] 1 S.C.R. 918
- Case number
- CIVIL APPEAL No. 2141/1982
- Decided
- 4 February 1997
- Bench
- B.P. JEEVAN REDDY, K.S. PARIPOORNAN (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2(22)(c), 2(24), 41(2), 10(2)(vii)
Headnote
Income Tax Act, 1961 : Sections 2(22)(c), 2(24) and 41(2). Income Tax Act, 1922 : Section 10(2)(vii) : C Income Tax-Assessee shareholder of a Transport Company--Liquida- tion of Company-Distribution of dividends from time to time by liquida­ tor-Assessment for 197(}-71, 1971-72 and brought to tax and shown as capital reserve by Company-Amount assessed D · under Section 41(2) as profits on sale of liquidated company's capital assets whether covered and distribution made out of such an amount whether assessable in the hands of shareholders as deemed dividends-Held an
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