https://www.taxtmi.com/caselaws?id=25144 The High Court held that tax deducted at source on dividends derived from shares held in another individual's name should be credited to the assessee trust. The court emphasized that if the dividend income is considered the trust's income, then credit for tax deducted at source should logically follow. The Tribunal was directed to verify if the dividend income received by the trust is in respect of the same shares from which tax was deducted. The court disagreed with taxing only the net dividend income, ruling that the gross dividend income should be treated as the assessee's income, with tax credit given accordingly. en-us Thu, 19 Mar 1987 00:00:00 +0530 Mon, 25 Jan 2010 16:14:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25144 The High Court held that tax deducted at source on dividends derived from shares held in another individual's name should be credited to the assessee trust. The court emphasized that if the dividend income is considered the trust's income, then credit for tax deducted at source should logically follow. The Tribunal was directed to verify if the dividend income received by the trust is in respect of the same shares from which tax was deducted. The court disagreed with taxing only the net dividend income, ruling that the gross dividend income should be treated as the assessee's income, with tax credit given accordingly. Case-Laws Income Tax Thu, 19 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25144