https://www.taxtmi.com/caselaws?id=38071 Dividend is taxable only when it is actually or deemed to be paid, credited, or distributed in an unconditional form under section 16(2) of the Indian Income-tax Act, 1922; a mere declaration subject to remittance restrictions does not create taxable income where the shareholder has no unconditional right to the amount. On that basis, inclusion of the disputed dividend in income was treated as without jurisdiction. A recovery action founded on such an unlawful inclusion could also be challenged in writ proceedings, and delay, laches, or the availability of an alternative statutory remedy did not bar relief where the demand itself was a nullity. en-us Tue, 21 Feb 1978 00:00:00 +0530 Sat, 03 Apr 2010 10:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38071 Dividend is taxable only when it is actually or deemed to be paid, credited, or distributed in an unconditional form under section 16(2) of the Indian Income-tax Act, 1922; a mere declaration subject to remittance restrictions does not create taxable income where the shareholder has no unconditional right to the amount. On that basis, inclusion of the disputed dividend in income was treated as without jurisdiction. A recovery action founded on such an unlawful inclusion could also be challenged in writ proceedings, and delay, laches, or the availability of an alternative statutory remedy did not bar relief where the demand itself was a nullity. Case-Laws Income Tax Tue, 21 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38071