https://www.taxtmi.com/caselaws?id=7223 For section 23A, the Income-tax Officer must assess whether dividend declaration would be unreasonable by considering the smallness of current profits together with losses incurred in earlier years. Established capital losses or other carried-forward non-trading losses are relevant factors in that assessment, and the inquiry is not confined to one isolated consideration. Applying that principle, the Court held that the assessee's outstanding loss could properly be taken into account in judging the reasonableness of declaring dividend, and the issue was answered in favour of the assessee. en-us Mon, 03 Jul 1967 00:00:00 +0530 Mon, 16 Feb 2009 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7223 For section 23A, the Income-tax Officer must assess whether dividend declaration would be unreasonable by considering the smallness of current profits together with losses incurred in earlier years. Established capital losses or other carried-forward non-trading losses are relevant factors in that assessment, and the inquiry is not confined to one isolated consideration. Applying that principle, the Court held that the assessee's outstanding loss could properly be taken into account in judging the reasonableness of declaring dividend, and the issue was answered in favour of the assessee. Case-Laws Income Tax Mon, 03 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7223