https://www.taxtmi.com/caselaws?id=98010 The court dismissed the appeal, ruling that the reissue of forfeited shares does not amount to an allotment under section 75(1) of the Companies Act, 1956. Therefore, no return is necessary for reissued forfeited shares. Additionally, the court clarified that sub-section (5) of section 75 does not change the traditional interpretation of "allotment" in section 75(1). The appeal was dismissed with costs. en-us Thu, 09 May 1963 00:00:00 +0530 Tue, 03 Feb 2015 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98010 The court dismissed the appeal, ruling that the reissue of forfeited shares does not amount to an allotment under section 75(1) of the Companies Act, 1956. Therefore, no return is necessary for reissued forfeited shares. Additionally, the court clarified that sub-section (5) of section 75 does not change the traditional interpretation of "allotment" in section 75(1). The appeal was dismissed with costs. Case-Laws Companies Law Thu, 09 May 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98010