https://www.taxtmi.com/caselaws?id=6948 Deemed dividend under section 23A of the Income-tax Act, 1922 was treated as dividend income for assessment purposes and had to be given full effect as a deeming provision. Where dividend income from shareholdings had already been returned on an adopted previous year accepted by the department, the assessee could not isolate one deemed dividend item and claim a different previous year merely because it was not actually declared. The statutory scheme of previous year and total income did not permit treating the deemed dividend as a separate source. It was therefore assessable in the assessment year 1954-55, not 1953-54. en-us Tue, 08 Nov 1966 00:00:00 +0530 Sat, 07 Feb 2009 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6948 Deemed dividend under section 23A of the Income-tax Act, 1922 was treated as dividend income for assessment purposes and had to be given full effect as a deeming provision. Where dividend income from shareholdings had already been returned on an adopted previous year accepted by the department, the assessee could not isolate one deemed dividend item and claim a different previous year merely because it was not actually declared. The statutory scheme of previous year and total income did not permit treating the deemed dividend as a separate source. It was therefore assessable in the assessment year 1954-55, not 1953-54. Case-Laws Income Tax Tue, 08 Nov 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6948