https://www.taxtmi.com/caselaws?id=5158 Arrear dividends purchased together with shares for a consolidated price were not taxable in the purchaser's hands as dividend income or business profit. The arrears remained income of the registered holders when declared, and the purchaser did not derive taxable income merely by receiving them under the sale bargain. A receipt that is not income in law cannot be taxed simply because it is entered in the books as such. The arrear dividends were therefore not assessable under section 12 or section 10. en-us Thu, 07 Aug 1969 00:00:00 +0530 Fri, 21 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5158 Arrear dividends purchased together with shares for a consolidated price were not taxable in the purchaser's hands as dividend income or business profit. The arrears remained income of the registered holders when declared, and the purchaser did not derive taxable income merely by receiving them under the sale bargain. A receipt that is not income in law cannot be taxed simply because it is entered in the books as such. The arrear dividends were therefore not assessable under section 12 or section 10. Case-Laws Income Tax Thu, 07 Aug 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5158