https://www.taxtmi.com/caselaws?id=26948 The Court held that capital gains are part of the distributable income for an investment company under section 104 of the Income-tax Act for the assessment year 1973-74. The Appellate Assistant Commissioner's decision that capital gains do not form part of commercial profits was overturned, and the Tribunal's view that capital gains are included in distributable income was upheld. The Court referred to precedent and emphasized that undistributed profits must be deemed distributed among shareholders if dividends are less than a certain percentage of assessable income. No costs were awarded, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Tue, 21 Jan 1986 00:00:00 +0530 Tue, 09 Feb 2010 15:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26948 The Court held that capital gains are part of the distributable income for an investment company under section 104 of the Income-tax Act for the assessment year 1973-74. The Appellate Assistant Commissioner's decision that capital gains do not form part of commercial profits was overturned, and the Tribunal's view that capital gains are included in distributable income was upheld. The Court referred to precedent and emphasized that undistributed profits must be deemed distributed among shareholders if dividends are less than a certain percentage of assessable income. No costs were awarded, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Tue, 21 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26948