https://www.taxtmi.com/caselaws?id=27328 The High Court ruled in favor of the taxpayer, V. Venkatesam Chetty, in a case involving the reopening of assessment due to undisclosed dividend income. The court held that dividend income is taxable in the year it is paid, credited, or distributed, regardless of when it becomes due. Considering Chetty's cash system of accounts and the actual receipt of the dividend cheque on May 11, 1970, the court quashed the income-tax authorities' orders and allowed Chetty's writ petition without costs. en-us Mon, 12 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 11:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27328 The High Court ruled in favor of the taxpayer, V. Venkatesam Chetty, in a case involving the reopening of assessment due to undisclosed dividend income. The court held that dividend income is taxable in the year it is paid, credited, or distributed, regardless of when it becomes due. Considering Chetty's cash system of accounts and the actual receipt of the dividend cheque on May 11, 1970, the court quashed the income-tax authorities' orders and allowed Chetty's writ petition without costs. Case-Laws Income Tax Mon, 12 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27328