https://www.taxtmi.com/caselaws?id=37804 The High Court held that the difference between dividends assessed by UK authorities and included in Indian income-tax assessment is not income under the Income Tax Act, 1961 for the assessee. The Court emphasized the absence of a specific deeming provision for foreign company dividends in section 198 and the requirement for income to actually accrue or arise to the assessee under section 5(1)(c) for taxation purposes. The decision underscores the significance of analyzing relevant provisions and judicial interpretations in tax matters, particularly concerning foreign dividends and cross-border taxation. en-us Mon, 19 Jun 1978 00:00:00 +0530 Fri, 21 Oct 2016 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37804 The High Court held that the difference between dividends assessed by UK authorities and included in Indian income-tax assessment is not income under the Income Tax Act, 1961 for the assessee. The Court emphasized the absence of a specific deeming provision for foreign company dividends in section 198 and the requirement for income to actually accrue or arise to the assessee under section 5(1)(c) for taxation purposes. The decision underscores the significance of analyzing relevant provisions and judicial interpretations in tax matters, particularly concerning foreign dividends and cross-border taxation. Case-Laws Income Tax Mon, 19 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37804