https://www.taxtmi.com/caselaws?id=184634 The expression "smallness of the profit made" in section 23A(1) of the Income-tax Act, 1922 refers to the company's overall distributable profits available for dividend, not merely trading or business profits assessable under section 10. The relevant enquiry is whether the omission to distribute at least sixty per cent of the assessable income was justified by the limited profits actually at the company's disposal for lawful distribution. On that construction, profits from all sources, including interest on securities, property income and dividend income, are within the scope of the test, and the contention that only business profits count was rejected. en-us Tue, 13 Aug 1957 00:00:00 +0530 Thu, 14 Jul 2016 17:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184634 The expression "smallness of the profit made" in section 23A(1) of the Income-tax Act, 1922 refers to the company's overall distributable profits available for dividend, not merely trading or business profits assessable under section 10. The relevant enquiry is whether the omission to distribute at least sixty per cent of the assessable income was justified by the limited profits actually at the company's disposal for lawful distribution. On that construction, profits from all sources, including interest on securities, property income and dividend income, are within the scope of the test, and the contention that only business profits count was rejected. Case-Laws Income Tax Tue, 13 Aug 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184634