https://www.taxtmi.com/caselaws?id=166277 Dividend income was held to accrue when the company declared the dividend, because the shareholder's right to receive it and the company's liability to pay arose on declaration. Deferred payment and later receipt did not postpone accrual for income-tax purposes, and the word "paid" in Section 16(2) of the Indian Income-tax Act, 1922 was read in the statutory context rather than as requiring cash realization. The dividend was therefore assessable in the earlier assessment year, not in the year of payment or receipt. en-us Tue, 16 Mar 1948 00:00:00 +0530 Fri, 12 Sep 2014 12:42:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166277 Dividend income was held to accrue when the company declared the dividend, because the shareholder's right to receive it and the company's liability to pay arose on declaration. Deferred payment and later receipt did not postpone accrual for income-tax purposes, and the word "paid" in Section 16(2) of the Indian Income-tax Act, 1922 was read in the statutory context rather than as requiring cash realization. The dividend was therefore assessable in the earlier assessment year, not in the year of payment or receipt. Case-Laws Income Tax Tue, 16 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166277