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of <h1>Omission of Section 107A removes Board power to reduce statutory minimum dividends, hearings, delegation, exemptions, and appeal bar</h1> Section 107A was omitted; previously it permitted a company subject to minimum-distribution rules to apply to the Board to reduce the statutory minimum dividend where payment would be unreasonable, subject to prescribed form, fee and time limits. The Board could cut the required distribution by up to 20% of the statutory percentage, set the period for distribution, and had to afford a hearing; its decision was final on matters before it. The Income-tax Officer deferred orders pending the Board's decision, and failure to distribute as directed revived the Officer's powers. The Central Government could exempt classes of companies, and the Board could delegate its powers to Commissioners; appeals against Income-tax Officer orders were barred where the Board had decided.
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