https://www.taxtmi.com/caselaws?id=276388 The text analyses application of the public-shareholding test and distributable-profits concept under section 23A(1). It states that shares held by a single controlling entity or group cannot be treated as unconditionally and beneficially held by the public for the Explanation to the proviso, affecting applicability of the provision. It also clarifies that distributable profits for dividend obligations are those shown in the company's account year and available at the date of the general meeting; income added later by rectification, not present at that date, cannot be treated as distributable for requiring dividend distribution. en-us Tue, 18 Sep 1962 00:00:00 +0530 Thu, 08 Nov 2018 16:31:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276388 The text analyses application of the public-shareholding test and distributable-profits concept under section 23A(1). It states that shares held by a single controlling entity or group cannot be treated as unconditionally and beneficially held by the public for the Explanation to the proviso, affecting applicability of the provision. It also clarifies that distributable profits for dividend obligations are those shown in the company's account year and available at the date of the general meeting; income added later by rectification, not present at that date, cannot be treated as distributable for requiring dividend distribution. Case-Laws Income Tax Tue, 18 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276388