https://www.taxtmi.com/caselaws?id=13141 Dividend tax under sections 115-O(1) and 115-O(3) applies to dividends declared, distributed or paid by a tea company even where its profits include income treated as agricultural income under Rule 8. Dividend arises from shareholding and the company's profits, rather than directly from land or agricultural operations; it is therefore legally distinct from the company's agricultural income. The levy does not tax agricultural income or encroach on the State's taxation field. The constitutional challenge failed, and the provisions remained valid and applicable to the tea company. en-us Thu, 20 Sep 2001 00:00:00 +0530 Tue, 26 May 2009 16:20:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13141 Dividend tax under sections 115-O(1) and 115-O(3) applies to dividends declared, distributed or paid by a tea company even where its profits include income treated as agricultural income under Rule 8. Dividend arises from shareholding and the company's profits, rather than directly from land or agricultural operations; it is therefore legally distinct from the company's agricultural income. The levy does not tax agricultural income or encroach on the State's taxation field. The constitutional challenge failed, and the provisions remained valid and applicable to the tea company. Case-Laws Income Tax Thu, 20 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13141