https://www.taxtmi.com/caselaws?id=39406 In proceedings under section 23A, established capital loss is a relevant circumstance in deciding whether declaration of dividend, or a larger dividend, would be reasonable. The income-tax authorities were not confined to treating the loss as a merely capital item outside that enquiry; the company's overall financial position remained material to the reasonableness test. The question was answered in favour of the assessee and against the revenue. en-us Mon, 02 Dec 1974 00:00:00 +0530 Fri, 16 Apr 2010 12:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39406 In proceedings under section 23A, established capital loss is a relevant circumstance in deciding whether declaration of dividend, or a larger dividend, would be reasonable. The income-tax authorities were not confined to treating the loss as a merely capital item outside that enquiry; the company's overall financial position remained material to the reasonableness test. The question was answered in favour of the assessee and against the revenue. Case-Laws Income Tax Mon, 02 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39406