https://www.taxtmi.com/caselaws?id=5319 Dividend in specie is treated as paid under section 16(2) of the Indian Income-tax Act, 1922 when the company irrevocably resolves to distribute it and makes it unconditionally available to the shareholder, even if actual physical delivery is later prevented. Here, the companies had transferred the assets to trustees for shareholders and done that was necessary to complete distribution; a later injunction did not reverse that availability. The dividend was therefore deemed paid in 1952 and was not taxable in assessment year 1957-58. en-us Wed, 21 Nov 1990 00:00:00 +0530 Sun, 23 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5319 Dividend in specie is treated as paid under section 16(2) of the Indian Income-tax Act, 1922 when the company irrevocably resolves to distribute it and makes it unconditionally available to the shareholder, even if actual physical delivery is later prevented. Here, the companies had transferred the assets to trustees for shareholders and done that was necessary to complete distribution; a later injunction did not reverse that availability. The dividend was therefore deemed paid in 1952 and was not taxable in assessment year 1957-58. Case-Laws Income Tax Wed, 21 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5319