https://www.taxtmi.com/caselaws?id=97177 Dividend grossing up and tax credit under the Indian Income-tax Act are available only to a registered shareholder. A purchaser of shares whose name is not entered in the register of members has merely an equitable interest and does not become the legal owner or shareholder for these tax provisions. Possession of share certificates alone is insufficient, and the benefit depends on a completed transfer reflected in the register. The stated principle is that transferor status continues until registration of the transferee, so statutory dividend relief is unavailable without registered membership. en-us Tue, 22 Apr 1952 00:00:00 +0530 Sat, 14 Jan 2012 12:41:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97177 Dividend grossing up and tax credit under the Indian Income-tax Act are available only to a registered shareholder. A purchaser of shares whose name is not entered in the register of members has merely an equitable interest and does not become the legal owner or shareholder for these tax provisions. Possession of share certificates alone is insufficient, and the benefit depends on a completed transfer reflected in the register. The stated principle is that transferor status continues until registration of the transferee, so statutory dividend relief is unavailable without registered membership. Case-Laws Companies Law Tue, 22 Apr 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97177