https://www.taxtmi.com/caselaws?id=7848 Estimated additions to income made under the proviso to section 13 remain part of commercial profits when considering dividend distribution under section 23A. In applying that provision, the assessing authority must also consider earlier years' losses and the smallness of current profits when deciding whether non-declaration of dividends was unreasonable. Earlier losses do not lose their character merely because they were adjusted in later accounts. On the stated facts, the Tribunal's finding that non-declaration was attributable to earlier losses was treated as binding, and relief from the section 23A orders was upheld. en-us Tue, 20 Jan 1970 00:00:00 +0530 Thu, 19 Mar 2009 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7848 Estimated additions to income made under the proviso to section 13 remain part of commercial profits when considering dividend distribution under section 23A. In applying that provision, the assessing authority must also consider earlier years' losses and the smallness of current profits when deciding whether non-declaration of dividends was unreasonable. Earlier losses do not lose their character merely because they were adjusted in later accounts. On the stated facts, the Tribunal's finding that non-declaration was attributable to earlier losses was treated as binding, and relief from the section 23A orders was upheld. Case-Laws Income Tax Tue, 20 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7848