https://www.taxtmi.com/caselaws?id=277167 The Rajasthan High Court interpreted the term "previous years" in section 2(6A)(c) of the Income-tax Act, 1922, in a case involving taxation of sums received by an assessee from a company in liquidation. The court held that the term referred to the six accounting years preceding the date of liquidation, not necessarily linked to specific assessment years. Consequently, the court ruled that the sum received was taxable as dividend under the Act, rejecting the argument that each previous year must correspond to an assessment year for taxation purposes. en-us Fri, 24 Aug 1956 00:00:00 +0530 Tue, 27 Nov 2018 16:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277167 The Rajasthan High Court interpreted the term "previous years" in section 2(6A)(c) of the Income-tax Act, 1922, in a case involving taxation of sums received by an assessee from a company in liquidation. The court held that the term referred to the six accounting years preceding the date of liquidation, not necessarily linked to specific assessment years. Consequently, the court ruled that the sum received was taxable as dividend under the Act, rejecting the argument that each previous year must correspond to an assessment year for taxation purposes. Case-Laws Income Tax Fri, 24 Aug 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277167