https://www.taxtmi.com/caselaws?id=39219 Section 23A of the Indian Income-tax Act, 1922 applied where the company failed to distribute the prescribed dividend from its distributable income, unless it could show on commercial grounds that a larger dividend would be unreasonable. The assessee did not declare the requisite dividend, so the statutory condition for invoking the provision was met. The reasons advanced, including donations, reserve allocations, and an asserted risk of nationalisation, were held insufficient. The burden remained on the assessee to produce convincing commercial material, and that burden was not discharged; the challenge accordingly failed. en-us Tue, 02 Sep 1975 00:00:00 +0530 Tue, 13 Apr 2010 17:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39219 Section 23A of the Indian Income-tax Act, 1922 applied where the company failed to distribute the prescribed dividend from its distributable income, unless it could show on commercial grounds that a larger dividend would be unreasonable. The assessee did not declare the requisite dividend, so the statutory condition for invoking the provision was met. The reasons advanced, including donations, reserve allocations, and an asserted risk of nationalisation, were held insufficient. The burden remained on the assessee to produce convincing commercial material, and that burden was not discharged; the challenge accordingly failed. Case-Laws Income Tax Tue, 02 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39219