https://www.taxtmi.com/caselaws?id=8733 Section 23A(1) of the Indian Income-tax Act, 1922 requires dividend distribution within 12 months after the close of the previous year, and that time limit is mandatory. Dividend distributed after expiry of that statutory period cannot be treated as compliance with the provision or deducted from the distributable surplus when computing liability to super-tax. The tax consequence therefore follows on the entire undistributed surplus, because the words "dividends actually distributed" do not override the express temporal requirement in the section. en-us Mon, 01 May 1972 00:00:00 +0530 Wed, 03 Jun 2009 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8733 Section 23A(1) of the Indian Income-tax Act, 1922 requires dividend distribution within 12 months after the close of the previous year, and that time limit is mandatory. Dividend distributed after expiry of that statutory period cannot be treated as compliance with the provision or deducted from the distributable surplus when computing liability to super-tax. The tax consequence therefore follows on the entire undistributed surplus, because the words "dividends actually distributed" do not override the express temporal requirement in the section. Case-Laws Income Tax Mon, 01 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8733