https://www.taxtmi.com/caselaws?id=276876 Deemed dividend under section 23A of the Indian Income-tax Act, 1922 was taxable in the hands of the registered shareholder, not the beneficial owner, where the two differed. The court applied its earlier interpretation of sections 16(2) and 18(5), under which grossed-up dividend income is attributed to the registered holder, and noted that section 23A contemplates inclusion of the shareholder's proportionate share in his income. Because the shares stood in the names of coparceners and the Hindu undivided family was not the registered holder, the amount could not be assessed as the family's income and remained assessable only in the hands of the individual registered shareholders. en-us Wed, 25 Sep 1957 00:00:00 +0530 Mon, 19 Nov 2018 18:33:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276876 Deemed dividend under section 23A of the Indian Income-tax Act, 1922 was taxable in the hands of the registered shareholder, not the beneficial owner, where the two differed. The court applied its earlier interpretation of sections 16(2) and 18(5), under which grossed-up dividend income is attributed to the registered holder, and noted that section 23A contemplates inclusion of the shareholder's proportionate share in his income. Because the shares stood in the names of coparceners and the Hindu undivided family was not the registered holder, the amount could not be assessed as the family's income and remained assessable only in the hands of the individual registered shareholders. Case-Laws Income Tax Wed, 25 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276876