https://www.taxtmi.com/caselaws?id=276084 Section 23A treats deemed dividend as a notional distribution of undistributed profits and requires the proportionate share to be included in the shareholder's total income. Where shares stand in joint names, the provision does not distinguish between the first-named holder and other joint holders, and it does not permit assessment by substituting beneficial ownership for registered shareholding. The statutory focus remains on the registered shareholder identified by the Act, while company articles governing voting or dividend receipt do not alter that tax position. en-us Fri, 06 Sep 1946 00:00:00 +0530 Sat, 27 Oct 2018 13:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276084 Section 23A treats deemed dividend as a notional distribution of undistributed profits and requires the proportionate share to be included in the shareholder's total income. Where shares stand in joint names, the provision does not distinguish between the first-named holder and other joint holders, and it does not permit assessment by substituting beneficial ownership for registered shareholding. The statutory focus remains on the registered shareholder identified by the Act, while company articles governing voting or dividend receipt do not alter that tax position. Case-Laws Income Tax Fri, 06 Sep 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276084