https://www.taxtmi.com/caselaws?id=168458 Section 23A(1) of the Income-tax Act, 1922 applied only where the company had failed to distribute the requisite dividends within the statutory period; amounts already taken out of the company as dividends or as payments deemed to be dividends were not ignored merely because they arose during the accounting year. Advances to shareholders falling within section 2(6A)(e) were treated as dividend distributions for computing the undistributed balance, and actual dividends later declared were also to be credited. On that basis, section 23A(1) did not apply to the company for the assessment years concerned. en-us Thu, 11 Jun 1964 00:00:00 +0530 Tue, 03 Mar 2015 15:48:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168458 Section 23A(1) of the Income-tax Act, 1922 applied only where the company had failed to distribute the requisite dividends within the statutory period; amounts already taken out of the company as dividends or as payments deemed to be dividends were not ignored merely because they arose during the accounting year. Advances to shareholders falling within section 2(6A)(e) were treated as dividend distributions for computing the undistributed balance, and actual dividends later declared were also to be credited. On that basis, section 23A(1) did not apply to the company for the assessment years concerned. Case-Laws Income Tax Thu, 11 Jun 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168458