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of <h1>Supreme Court rules against additional tax on dividend, orders refund to company</h1> <h3>SAL Narayana Row, Commissioner Of Income-Tax, BombayCity, And Another Versus Model Mills Nagpur Limited</h3> The Supreme Court held that the levy of additional tax on excess dividend was illegal. The respondent-company was entitled to a refund, as ordered by the ... Refund - tax illegally collected - additional tax levied on the excess dividend declared by the company - High Court was right in directing the Commissioner to refund the amount of tax - department appeal dismissed The Supreme Court held that the levy of additional tax on excess dividend by the Income-tax Officer was illegal. The respondent-company was entitled to a refund of the tax collected. The High Court's order directing the Commissioner to refund the amount was upheld. The appeal was dismissed with no order as to costs.
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