https://www.taxtmi.com/caselaws?id=152247 Dividend income, read with the deeming provisions in section 16(2), section 18(5) and section 49B of the Indian Income-tax Act, 1922, was treated as income in respect of which tax had in law been deducted or paid at the time of payment. On that construction, it fell outside section 18A, which applied only to income not covered by deduction at source under section 18. The Supreme Court therefore held that interest under section 18A(6) could not be levied on dividend income, and the reference was answered in favour of the assessee. en-us Tue, 04 Dec 1962 00:00:00 +0530 Fri, 20 Dec 2024 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152247 Dividend income, read with the deeming provisions in section 16(2), section 18(5) and section 49B of the Indian Income-tax Act, 1922, was treated as income in respect of which tax had in law been deducted or paid at the time of payment. On that construction, it fell outside section 18A, which applied only to income not covered by deduction at source under section 18. The Supreme Court therefore held that interest under section 18A(6) could not be levied on dividend income, and the reference was answered in favour of the assessee. Case-Laws Income Tax Tue, 04 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152247