https://www.taxtmi.com/caselaws?id=276855 An interim dividend declared by directors under the company articles is not treated as the shareholder's income until actual payment is made. The governing principle is that, unlike a dividend declared in general meeting, an interim dividend remains revocable before payment, and the use of the word "declare" in the directors' resolution does not give it finality. On that basis, the tax point arises only on payment during the accounting period, and the dividend is includible in income for the relevant year when paid. en-us Mon, 06 Mar 1961 00:00:00 +0530 Mon, 19 Nov 2018 15:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276855 An interim dividend declared by directors under the company articles is not treated as the shareholder's income until actual payment is made. The governing principle is that, unlike a dividend declared in general meeting, an interim dividend remains revocable before payment, and the use of the word "declare" in the directors' resolution does not give it finality. On that basis, the tax point arises only on payment during the accounting period, and the dividend is includible in income for the relevant year when paid. Case-Laws Income Tax Mon, 06 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276855