https://www.taxtmi.com/caselaws?id=6070 Dividend received by a shareholder was held taxable in the shareholder's hands even though the company had already been taxed on the same amount as undistributed profits under section 104 of the Income-tax Act, 1961. Taxability was determined by the identity of the assessee, and taxing the same amount in the hands of different assessees was not impermissible double taxation. Once distributed, the amount changed character and became income of the shareholder distinct from the company's liability. The objection based on double taxation therefore failed, and the Revenue was entitled to tax the dividend in the shareholder's hands. en-us Thu, 10 Dec 1998 00:00:00 +0530 Wed, 29 Aug 2018 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6070 Dividend received by a shareholder was held taxable in the shareholder's hands even though the company had already been taxed on the same amount as undistributed profits under section 104 of the Income-tax Act, 1961. Taxability was determined by the identity of the assessee, and taxing the same amount in the hands of different assessees was not impermissible double taxation. Once distributed, the amount changed character and became income of the shareholder distinct from the company's liability. The objection based on double taxation therefore failed, and the Revenue was entitled to tax the dividend in the shareholder's hands. Case-Laws Income Tax Thu, 10 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6070