https://www.taxtmi.com/caselaws?id=166291 Grossing up and tax credit on dividends under the Income-tax Act, 1922 were confined to dividends paid by the company to its registered shareholder. A purchaser of shares who was not entered in the company's books as a shareholder could not claim those statutory benefits merely because the amount received from the vendor shareholder corresponded to a dividend. The court treated the certificate question under section 20 as unnecessary once the assessee failed on entitlement to the substantive relief. The claim under sections 16(2) and 18(5) was therefore rejected. en-us Mon, 15 Mar 1948 00:00:00 +0530 Tue, 16 Sep 2014 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166291 Grossing up and tax credit on dividends under the Income-tax Act, 1922 were confined to dividends paid by the company to its registered shareholder. A purchaser of shares who was not entered in the company's books as a shareholder could not claim those statutory benefits merely because the amount received from the vendor shareholder corresponded to a dividend. The court treated the certificate question under section 20 as unnecessary once the assessee failed on entitlement to the substantive relief. The claim under sections 16(2) and 18(5) was therefore rejected. Case-Laws Income Tax Mon, 15 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166291