https://www.taxtmi.com/caselaws?id=35682 In a fiscal rebate provision linked to dividends declared or distributed during the previous year, the Calcutta HC applied the plain language of the statute and held that the reduction of rebate was not confined to dividends paid out of the current assessment year's profits. The court declined to read into the provision a condition not expressed in the text, and treated a dividend declared in the relevant previous year as sufficient to trigger the statutory consequence even if it related to earlier profits. The rebate reduction was therefore to be computed by reference to the dividend actually declared or distributed during that year. en-us Wed, 07 Jan 1981 00:00:00 +0530 Tue, 16 Mar 2010 10:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35682 In a fiscal rebate provision linked to dividends declared or distributed during the previous year, the Calcutta HC applied the plain language of the statute and held that the reduction of rebate was not confined to dividends paid out of the current assessment year's profits. The court declined to read into the provision a condition not expressed in the text, and treated a dividend declared in the relevant previous year as sufficient to trigger the statutory consequence even if it related to earlier profits. The rebate reduction was therefore to be computed by reference to the dividend actually declared or distributed during that year. Case-Laws Income Tax Wed, 07 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35682