https://www.taxtmi.com/caselaws?id=7940 Rebate reduction under the Finance Acts depended on the source and character of the profits from which dividends were paid, so the composition of the relevant year's profits had to be examined rather than treating the date of distribution as decisive. The assessee's contention was accepted on this point. The paid-up capital was also fixed with reference to the first day of the previous year relevant to assessment, and it was not to be proportionately reduced merely because dividends were later distributed. The company therefore succeeded against the department's proposed method of reducing corporation tax rebate. en-us Fri, 18 Apr 1969 00:00:00 +0530 Tue, 24 Mar 2009 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7940 Rebate reduction under the Finance Acts depended on the source and character of the profits from which dividends were paid, so the composition of the relevant year's profits had to be examined rather than treating the date of distribution as decisive. The assessee's contention was accepted on this point. The paid-up capital was also fixed with reference to the first day of the previous year relevant to assessment, and it was not to be proportionately reduced merely because dividends were later distributed. The company therefore succeeded against the department's proposed method of reducing corporation tax rebate. Case-Laws Income Tax Fri, 18 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7940