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1 - 10 of 16 (0.33 seconds)The Income Tax Act, 1961
Section 3 in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 4 in The Income Tax Act, 1961 [Entire Act]
The Finance Act, 2018
The Coinage Act, 2011
Section 153 in The Income Tax Act, 1961 [Entire Act]
Bacha F. Guzdar vs Commissioner Of Income-Tax, Bombay on 28 October, 1954
There can also be no doubt that whatever amount has
been distributed to the assessee company and is attributable
to accumulate profits in items 2 and 3 mentioned in the
question would constitute dividend in the hands of the
assessee and the whole of the amount so received would be
liable to be taxed as such. This is clear from the
Constitution Bench decision of this Court in the case of
Mrs. Bacha F. Guzdar, Bombay v. Commissioner of Income-tax
Bombay(1). The assessee in that case was a shareholder in
certain tea companies. 60 per cent of whose income was
exempt from tax as agricultural income under section 4(3)