Dividend definition clarifies which company distributions constitute taxable dividends and specifies key exclusions and explanations. Clause (22) defines dividend as distributions by a company attributable to accumulated profits-including distributions of assets, debentures or bonus shares, liquidation or capital-reduction distributions to the extent of accumulated profits, certain advances or payments to substantial shareholders or related concerns, and buyback payments under company law-while excluding specified liquidations or reductions in respect of non-participating paid-up shares, certain historical bonus-related capitalised profits, ordinary-course lending advances, set offs of prior dividend-treatment payments, and demerger share distributions. Explanations delimit the meaning and temporal scope of 'accumulated profits' and treatment on amalgamation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Dividend definition clarifies which company distributions constitute taxable dividends and specifies key exclusions and explanations.
Clause (22) defines dividend as distributions by a company attributable to accumulated profits-including distributions of assets, debentures or bonus shares, liquidation or capital-reduction distributions to the extent of accumulated profits, certain advances or payments to substantial shareholders or related concerns, and buyback payments under company law-while excluding specified liquidations or reductions in respect of non-participating paid-up shares, certain historical bonus-related capitalised profits, ordinary-course lending advances, set offs of prior dividend-treatment payments, and demerger share distributions. Explanations delimit the meaning and temporal scope of "accumulated profits" and treatment on amalgamation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
