https://www.taxtmi.com/caselaws?id=7270 Excess realised on sale of a company's assets was not assessable as dividend under section 2(6A)(c) of the Income-tax Act, 1922 because the statutory conditions were absent: there was no liquidation in fact, no distribution to shareholders on liquidation, and no material showing accumulated profits immediately before liquidation. The provision applies only where all those elements are satisfied, so the amount fell outside the deemed dividend charge and was treated in favour of the assessee. en-us Wed, 20 Dec 1967 00:00:00 +0530 Mon, 16 Feb 2009 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7270 Excess realised on sale of a company's assets was not assessable as dividend under section 2(6A)(c) of the Income-tax Act, 1922 because the statutory conditions were absent: there was no liquidation in fact, no distribution to shareholders on liquidation, and no material showing accumulated profits immediately before liquidation. The provision applies only where all those elements are satisfied, so the amount fell outside the deemed dividend charge and was treated in favour of the assessee. Case-Laws Income Tax Wed, 20 Dec 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7270