https://www.taxtmi.com/caselaws?id=329654 The Tribunal dismissed the Revenue's appeal, affirming CIT(A)'s decision to delete the addition of Rs. 53,13,800 on account of unclaimed dividends. It held that such transfers to the Reserve Fund, as mandated by statutory requirements, do not amount to taxable income due to cessation of liability. The Tribunal emphasized that unclaimed dividends are not subject to taxation as income, supporting the assessee's position and aligning with prior rulings. en-us Fri, 10 Jun 2016 00:00:00 +0530 Thu, 07 Jul 2016 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329654 The Tribunal dismissed the Revenue's appeal, affirming CIT(A)'s decision to delete the addition of Rs. 53,13,800 on account of unclaimed dividends. It held that such transfers to the Reserve Fund, as mandated by statutory requirements, do not amount to taxable income due to cessation of liability. The Tribunal emphasized that unclaimed dividends are not subject to taxation as income, supporting the assessee's position and aligning with prior rulings. Case-Laws Income Tax Fri, 10 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329654