-
Case Law
Commissioner Of Income-tax, Gujarat VS. Vadilal Lallubhai Etc.Etc.
Recurso nº 6745, Ponente Hegde,k.S.
The assessee sold his share holdings in certain managing agency companies. A few days thereafter the managing agency companies went into voluntary liquidation. Consequently, the assets of those companies were distributed among the shareholders then on the registers of the companies. They included the persons who had newly purchased the shares. They were either not liable to pay any income-tax or were liable to pay tax at a rate lower than what the assessee would have had to pay had he rec...
-
Case Law
Cloth Traders (P) Ltd., Etc. VS. Addl. Commr. Of Income Tax, Gujarat-i,etc.
Recurso nº 4804, Ponente Bhagwati,p.N.
The earliest provision granting exemption of super-tax in respect of intercorporate dividends was made as far back as 9th December, 1933 in a Notification issued by the Governor General in Council and it provided as follows: "The Governor General in Council is pleased to exempt from super-tax. (i) so much of the income of any investment trust company as is derived from dividend paid by any other company which has paid or will pay super-tax in respect of the profits, out of which such divi...
Refine search
Search within 2 Search results “deemed dividend cases in favour of assessee”