Supreme Court · 1998 INSC 35 · Decided 21 January 1998
The Commissioner of Income Tax v. M/S. Express News Papers LTD.
- Court
- Supreme Court of India
- Citation
- 1998 INSC 35 · [1998] 1 S.C.R. 288
- Case number
- CIVIL APPEAL No. 2941/1985
- Decided
- 21 January 1998
- Bench
- B.N. KIRPAL, S.P. KURDUKAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 205; Income Tax Act
Headnote
Income Tax Act, 1961/Finance Act, 1964 . Interim dividend-Nature of-Declaration of interim dividend by Board C of Directors on 6.12. I 962 to be payable on I 6. I. I 963-Accounting year of Company being calendar year-Income Tax Officer reduced the rebate for the assessment year 1964-65 to the tax authorities were right in reducing the rebate for the assessment,year 1964-65-lnterim dividend cannot D be construed as meaning declaration of dividend by Company-Nature of the interim dividend is such that it gives ntJ right to shareholders to receive it merely on passing of
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