https://www.taxtmi.com/caselaws?id=169531 The inclusive definition of dividend under section 2(6A) of the Indian Income-tax Act, 1922 extends to distributions of accumulated profits when a company releases assets to shareholders, but the second proviso excludes post-31 March 1948 capital gains from accumulated profits. Where the distribution represented excess realised on compulsory acquisition of a capital asset and was carried to capital reserve before being paid out, it fell within that exclusion. The sums received on distribution of the company's compensation amount were therefore outside the statutory meaning of dividend and were not taxable as dividend under the Act. en-us Fri, 23 Mar 1962 00:00:00 +0530 Sat, 25 Apr 2015 10:35:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169531 The inclusive definition of dividend under section 2(6A) of the Indian Income-tax Act, 1922 extends to distributions of accumulated profits when a company releases assets to shareholders, but the second proviso excludes post-31 March 1948 capital gains from accumulated profits. Where the distribution represented excess realised on compulsory acquisition of a capital asset and was carried to capital reserve before being paid out, it fell within that exclusion. The sums received on distribution of the company's compensation amount were therefore outside the statutory meaning of dividend and were not taxable as dividend under the Act. Case-Laws Income Tax Fri, 23 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169531