https://www.taxtmi.com/caselaws?id=200337 Distribution received by a shareholder from a company in liquidation was treated as dividend to the extent it was referable to accumulated profits under section 2(6A)(c) of the Indian Income-tax Act, 1922. The provision was construed as a whole, including the proviso, to reflect legislative intent that only accumulated profits within the relevant period were brought within the charging definition. The amended form of section 2(6A)(c), brought into force by the Finance Act, 1955, was held applicable for assessment year 1955-56 because the assessment had to be made under the law in force for that year. The liability was therefore affirmed on the portion attributable to accumulated profits. en-us Fri, 07 Dec 1962 00:00:00 +0530 Mon, 26 Mar 2018 14:05:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200337 Distribution received by a shareholder from a company in liquidation was treated as dividend to the extent it was referable to accumulated profits under section 2(6A)(c) of the Indian Income-tax Act, 1922. The provision was construed as a whole, including the proviso, to reflect legislative intent that only accumulated profits within the relevant period were brought within the charging definition. The amended form of section 2(6A)(c), brought into force by the Finance Act, 1955, was held applicable for assessment year 1955-56 because the assessment had to be made under the law in force for that year. The liability was therefore affirmed on the portion attributable to accumulated profits. Case-Laws Income Tax Fri, 07 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200337