https://www.taxtmi.com/caselaws?id=6271 Dividend received in kind may include property or rights with monetary value, and for income-tax assessment the relevant measure is the real income received by the shareholder in the year of entitlement. Where dividend is distributed in shares or other property, the asset is valued at its market value on the date the recipient becomes entitled to it; the distributing company's valuation does not control the recipient's assessment. The note also records that a High Court certificate unsupported by reasons is invalid, so an appeal founded solely on such a certificate is not maintainable. en-us Tue, 07 Sep 1971 00:00:00 +0530 Fri, 25 Sep 2015 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6271 Dividend received in kind may include property or rights with monetary value, and for income-tax assessment the relevant measure is the real income received by the shareholder in the year of entitlement. Where dividend is distributed in shares or other property, the asset is valued at its market value on the date the recipient becomes entitled to it; the distributing company's valuation does not control the recipient's assessment. The note also records that a High Court certificate unsupported by reasons is invalid, so an appeal founded solely on such a certificate is not maintainable. Case-Laws Income Tax Tue, 07 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6271