https://www.taxtmi.com/caselaws?id=16706 The court held that no charge was created in respect of the preference dividend and there was no diversion of income at source by an overriding title. The preference dividends were received by the assessee in its own right and then applied for research activities, making them taxable in the assessee's hands. The court ruled against the assessee on all three issues, in favor of the Revenue, and disposed of the reference with no order as to costs. en-us Fri, 12 Jun 1998 00:00:00 +0530 Wed, 09 Sep 2009 16:04:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16706 The court held that no charge was created in respect of the preference dividend and there was no diversion of income at source by an overriding title. The preference dividends were received by the assessee in its own right and then applied for research activities, making them taxable in the assessee's hands. The court ruled against the assessee on all three issues, in favor of the Revenue, and disposed of the reference with no order as to costs. Case-Laws Income Tax Fri, 12 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16706