https://www.taxtmi.com/caselaws?id=277167 The proviso to section 2(6A)(c) of the Indian Income-tax Act, 1922 was interpreted to mean that "six previous years" refers to the six accounting years of the company immediately before liquidation, not to a rigid requirement that each year be followed by an assessment year. The provision was treated as limiting the period of accumulated profits that could be brought to tax on liquidation, and the expression "previous year" was read in context rather than literally in every case. On that construction, the amount received from the liquidator was treated as taxable dividend. 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 proviso to section 2(6A)(c) of the Indian Income-tax Act, 1922 was interpreted to mean that "six previous years" refers to the six accounting years of the company immediately before liquidation, not to a rigid requirement that each year be followed by an assessment year. The provision was treated as limiting the period of accumulated profits that could be brought to tax on liquidation, and the expression "previous year" was read in context rather than literally in every case. On that construction, the amount received from the liquidator was treated as taxable dividend. Case-Laws Income Tax Fri, 24 Aug 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277167