https://www.taxtmi.com/caselaws?id=8072 Dividend declared in specie is treated as paid for tax purposes when the company discharges its liability and makes the amount unconditionally available to shareholders under section 16(2) of the Income-tax Act, 1922. On that principle, the dividend became assessable in the year of declaration and availability, even though the shareholder received the share scrips later and later injunction or compromise proceedings did not change the company's position. The taxpayer's inclusion of the amount in a later return did not create estoppel against assessment in the correct year. en-us Thu, 24 Dec 1970 00:00:00 +0530 Sat, 28 Mar 2009 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8072 Dividend declared in specie is treated as paid for tax purposes when the company discharges its liability and makes the amount unconditionally available to shareholders under section 16(2) of the Income-tax Act, 1922. On that principle, the dividend became assessable in the year of declaration and availability, even though the shareholder received the share scrips later and later injunction or compromise proceedings did not change the company's position. The taxpayer's inclusion of the amount in a later return did not create estoppel against assessment in the correct year. Case-Laws Income Tax Thu, 24 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8072