https://www.taxtmi.com/caselaws?id=5155 Dividend income under the Income-tax Act, 1922 is assessable in the previous year in which it is paid, credited or distributed, or deemed to be so, and not merely when it is declared or becomes due. On the facts stated, the record did not show payment, credit or distribution before 31 December 1949, and the dividend was received by the assessee-bank in taxable territories after the State's merger. Prior declaration in an Indian State did not prevent taxability, because receipt in taxable territories in the relevant previous year brought the amount within assessment for 1950-51. en-us Fri, 23 Aug 1968 00:00:00 +0530 Sat, 22 Nov 2008 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5155 Dividend income under the Income-tax Act, 1922 is assessable in the previous year in which it is paid, credited or distributed, or deemed to be so, and not merely when it is declared or becomes due. On the facts stated, the record did not show payment, credit or distribution before 31 December 1949, and the dividend was received by the assessee-bank in taxable territories after the State's merger. Prior declaration in an Indian State did not prevent taxability, because receipt in taxable territories in the relevant previous year brought the amount within assessment for 1950-51. Case-Laws Income Tax Fri, 23 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5155