https://www.taxtmi.com/caselaws?id=16498 The Tribunal and High Court upheld the private limited company's position, canceling the additional income tax levied under Section 104 of the Income Tax Act, 1961. They found the company's decision not to declare a larger dividend justified due to its financial constraints, emphasizing that the declaration of dividends is a commercial decision based on financial considerations. The Court ruled in favor of the assessee, concluding that the company was not obligated to distribute a larger dividend given its financial circumstances. en-us Thu, 08 Jan 1998 00:00:00 +0530 Tue, 08 Sep 2009 12:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16498 The Tribunal and High Court upheld the private limited company's position, canceling the additional income tax levied under Section 104 of the Income Tax Act, 1961. They found the company's decision not to declare a larger dividend justified due to its financial constraints, emphasizing that the declaration of dividends is a commercial decision based on financial considerations. The Court ruled in favor of the assessee, concluding that the company was not obligated to distribute a larger dividend given its financial circumstances. Case-Laws Income Tax Thu, 08 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16498