https://www.taxtmi.com/caselaws?id=98105 Distribution made out of share premium could fall within the definition of dividend under section 2(6A)(a) of the Indian Income-tax Act, 1922 where it involved release of company assets to shareholders from accumulated profits, whether capitalised or not. The share premium was treated as profits available for distribution for dividend purposes, and Regulation 97 of Table A, Companies Act, 1913 did not prevent that characterisation. Section 78 of the Companies Act, 1956 did not change the tax treatment of dividends declared out of premiums received before that Act commenced. The receipt was therefore taxable as dividend in the shareholder's hands. en-us Thu, 02 Apr 1964 00:00:00 +0530 Thu, 03 Aug 2017 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98105 Distribution made out of share premium could fall within the definition of dividend under section 2(6A)(a) of the Indian Income-tax Act, 1922 where it involved release of company assets to shareholders from accumulated profits, whether capitalised or not. The share premium was treated as profits available for distribution for dividend purposes, and Regulation 97 of Table A, Companies Act, 1913 did not prevent that characterisation. Section 78 of the Companies Act, 1956 did not change the tax treatment of dividends declared out of premiums received before that Act commenced. The receipt was therefore taxable as dividend in the shareholder's hands. Case-Laws Companies Law Thu, 02 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98105