https://www.taxtmi.com/caselaws?id=291308 Dividend paid by cancelling a debt and making corresponding book entries was treated as a transmission of income to a non-resident for the purposes of section 30 of the Income-tax Ordinance, 1940. The non-resident shareholder remained chargeable on the dividend under section 5 because the income accrued in, or was derived from, the Colony. Section 30 was held to operate within territorial limits by imposing liability on the resident person in the Colony who transmits income to a non-resident, making that resident liable as statutory agent. en-us Tue, 17 Oct 1944 00:00:00 +0630 Thu, 05 Nov 2020 12:31:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291308 Dividend paid by cancelling a debt and making corresponding book entries was treated as a transmission of income to a non-resident for the purposes of section 30 of the Income-tax Ordinance, 1940. The non-resident shareholder remained chargeable on the dividend under section 5 because the income accrued in, or was derived from, the Colony. Section 30 was held to operate within territorial limits by imposing liability on the resident person in the Colony who transmits income to a non-resident, making that resident liable as statutory agent. Case-Laws Income Tax Tue, 17 Oct 1944 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=291308