https://www.taxtmi.com/caselaws?id=98185 Profits earned by a company after the commencement of winding up are current liquidation profits, not accumulated profits within the meaning of section 2(22)(c) of the Income-tax Act, 1961. The relevant date of liquidation is the commencement of winding up, not the later date of dissolution, so the extended definition of accumulated profits does not capture profits generated during liquidation. On that construction, such post-liquidation profits are not "dividend" and no deduction of income-tax or super-tax at source is permissible under section 194 in respect of them. en-us Mon, 22 Feb 1965 00:00:00 +0530 Thu, 19 Jan 2012 15:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98185 Profits earned by a company after the commencement of winding up are current liquidation profits, not accumulated profits within the meaning of section 2(22)(c) of the Income-tax Act, 1961. The relevant date of liquidation is the commencement of winding up, not the later date of dissolution, so the extended definition of accumulated profits does not capture profits generated during liquidation. On that construction, such post-liquidation profits are not "dividend" and no deduction of income-tax or super-tax at source is permissible under section 194 in respect of them. Case-Laws Companies Law Mon, 22 Feb 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98185