https://www.taxtmi.com/caselaws?id=28253 Dividend relief under section 236 was available where a transferee bank, after amalgamation and name change, distributed dividends from reserves traced to profits already taxed for periods ending before 1 April 1960. The amalgamation did not extinguish the transferee bank, so the earlier taxed profits could be followed into the reserve and treated as the source of the dividend; the word "actually" did not prevent such tracing. An order refusing this relief was also appealable under section 246(n) because the relief was, in substance, a refund of tax already paid. The assessee's entitlement and the maintainability of the appeal were both upheld. en-us Wed, 02 Dec 1981 00:00:00 +0530 Sat, 20 Feb 2010 10:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28253 Dividend relief under section 236 was available where a transferee bank, after amalgamation and name change, distributed dividends from reserves traced to profits already taxed for periods ending before 1 April 1960. The amalgamation did not extinguish the transferee bank, so the earlier taxed profits could be followed into the reserve and treated as the source of the dividend; the word "actually" did not prevent such tracing. An order refusing this relief was also appealable under section 246(n) because the relief was, in substance, a refund of tax already paid. The assessee's entitlement and the maintainability of the appeal were both upheld. Case-Laws Income Tax Wed, 02 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28253