https://www.taxtmi.com/caselaws?id=276009 For section 2(6A)(c) of the Income-tax Act, the six previous years preceding liquidation were the six completed accounting years immediately before liquidation, not a broken period caused by discontinuance of business. On that construction, only accumulated profits arising within those six years were relevant, and the period identified was 1943 to 1948. Profits that had already been transferred to capital account before liquidation lost their character as distributable accumulated profits and were not taxable under the provision. The ratio is that liquidation distributions under section 2(6A)(c) include only uncapitalised accumulated profits of the relevant six-year period. en-us Tue, 15 Feb 1955 00:00:00 +0530 Thu, 25 Oct 2018 11:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276009 For section 2(6A)(c) of the Income-tax Act, the six previous years preceding liquidation were the six completed accounting years immediately before liquidation, not a broken period caused by discontinuance of business. On that construction, only accumulated profits arising within those six years were relevant, and the period identified was 1943 to 1948. Profits that had already been transferred to capital account before liquidation lost their character as distributable accumulated profits and were not taxable under the provision. The ratio is that liquidation distributions under section 2(6A)(c) include only uncapitalised accumulated profits of the relevant six-year period. Case-Laws Income Tax Tue, 15 Feb 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276009