https://www.taxtmi.com/caselaws?id=168782 A shareholder's claim for refund of tax on dividends under the Indian Income-tax Act, 1922 depends on the dividend being included in the shareholder's total income, because the statutory credit mechanism under section 49B operates only when that condition is met. A dividend is treated as income when paid, credited or distributed, and the right to refund under section 48 does not arise merely from a dividend warrant or company certificate. As the assessee neither included the dividend in the return nor proved actual receipt of the dividend, the refund claim failed. en-us Fri, 24 Feb 1956 00:00:00 +0530 Thu, 26 Mar 2015 14:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168782 A shareholder's claim for refund of tax on dividends under the Indian Income-tax Act, 1922 depends on the dividend being included in the shareholder's total income, because the statutory credit mechanism under section 49B operates only when that condition is met. A dividend is treated as income when paid, credited or distributed, and the right to refund under section 48 does not arise merely from a dividend warrant or company certificate. As the assessee neither included the dividend in the return nor proved actual receipt of the dividend, the refund claim failed. Case-Laws Income Tax Fri, 24 Feb 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168782