https://www.taxtmi.com/caselaws?id=20622 The High Court determined that the official declaration of dividend for tax assessment purposes occurred at the annual general meeting in July 1978, not when the board of directors initially resolved in December 1977. The court emphasized the requirement for general body approval for dividend declarations under section 104(1) of the Income-tax Act, following precedents on interim dividends and enforceable obligations. Consequently, the court upheld the Income-tax Officer's assessment, ruling in favor of the Revenue and against the assessee, with no costs awarded. en-us Wed, 21 Apr 1993 00:00:00 +0530 Mon, 16 Nov 2009 11:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20622 The High Court determined that the official declaration of dividend for tax assessment purposes occurred at the annual general meeting in July 1978, not when the board of directors initially resolved in December 1977. The court emphasized the requirement for general body approval for dividend declarations under section 104(1) of the Income-tax Act, following precedents on interim dividends and enforceable obligations. Consequently, the court upheld the Income-tax Officer's assessment, ruling in favor of the Revenue and against the assessee, with no costs awarded. Case-Laws Income Tax Wed, 21 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20622