https://www.taxtmi.com/caselaws?id=287865 A rebate under section 18(5) of the Indian Income-tax Act, 1922 on grossed-up dividend income is available only to the shareholder whose name stands registered in the company's share register. The court treated the gross-up credit as attaching to the registered shareholder, because the dividend is deemed to include tax paid on that shareholder's behalf. An unregistered purchaser or beneficial owner cannot claim the rebate merely on the basis of a beneficial or possessory interest. The assessee, not being the registered holder of the relevant shares, was held not entitled to the rebate. en-us Mon, 15 Jun 1953 00:00:00 +0530 Wed, 06 May 2020 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287865 A rebate under section 18(5) of the Indian Income-tax Act, 1922 on grossed-up dividend income is available only to the shareholder whose name stands registered in the company's share register. The court treated the gross-up credit as attaching to the registered shareholder, because the dividend is deemed to include tax paid on that shareholder's behalf. An unregistered purchaser or beneficial owner cannot claim the rebate merely on the basis of a beneficial or possessory interest. The assessee, not being the registered holder of the relevant shares, was held not entitled to the rebate. Case-Laws Income Tax Mon, 15 Jun 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287865