that provisions of Section 8 of the Income-tax Act, 1961, must be read subject to the provisions of Section 205A and Section ... pointed out that the provisions of Section 8 have to be read along with Sections 205A and 207 of the Companies Act. In other words
remaining profits. But even here, the provisions contained in Section 205A of the Companies Act requires that any company desirous of distributing dividend in excess ... distributable income under the Income Tax Act is contained in Section 109 . The starting point for arriving at the distributable income is the gross total
Deputy Commissioner Of Income-Tax vs A.P. State Textiles Development Corpn. ... on 31 October
certificate of commencement of
business or commencement of other business under section 149
of the Companies Act, 1956 (1 of 1956); or
(19) Appeals ... transfer to the special account under sub-section (1)
and sub-section (2) of section 205A of the Companies
reserves was subject to certain restrictions imposed by Section 205A(3) of the Companies Act and the rules made by the Government in this behalf ... placed on the distribution of such profits as under Section 205A(3) . According to commentary at page 666 of Palmer's Company Law, 21st
also did not make any comments with regard to the compliance with Section 58A of the Act in his report on the accounts ... also remitted the unpaid amount in a separate account as per Section 205A(1) of the Act. The company was also liable to deduct income
provision being treated as 'reserve'. Drawing our attention to Section 205A(3) of the Companies Act, he pointed out that dividends
that the assessee is a cooperative
society and therefore, provisions of Section 205A of the Companies
Act were not applicable. It was also submitted that ... 4981/Del/2010
account and, therefore, the provisions of Section 41(1) are not
applicable as there is no cessation of liability. Therefore
such a case, paying dividend beyond 30 days
would be violating Section 205A of Companies Act, 1956 and, therefore, we
are prima facie
under Section 149 of the Companies Act, 1956 (1 of 1956); or
(v) signing of the annual return of listed companies under Section ... transfer to the special account under Sub-section (1) and Sub-section (2) of Section 205A of the Companies
