https://www.taxtmi.com/caselaws?id=49270 Dividend income from shares standing in the karta's name but beneficially owned by a Hindu undivided family is chargeable in the hands of the real owner under the Indian Income-tax Act, 1922. Section 16(2) regulates the timing of inclusion and the grossing-up mechanism for dividends, but it does not create an exemption or confine taxability to the registered shareholder. The inability to obtain grossing up or credit for tax deducted at source does not defeat assessment where beneficial ownership is with the family. Earlier grossing-up and deemed-distribution decisions were held not to bar taxation in the hands of the real owner. en-us Thu, 10 Feb 1966 00:00:00 +0530 Sat, 16 Aug 2014 13:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49270 Dividend income from shares standing in the karta's name but beneficially owned by a Hindu undivided family is chargeable in the hands of the real owner under the Indian Income-tax Act, 1922. Section 16(2) regulates the timing of inclusion and the grossing-up mechanism for dividends, but it does not create an exemption or confine taxability to the registered shareholder. The inability to obtain grossing up or credit for tax deducted at source does not defeat assessment where beneficial ownership is with the family. Earlier grossing-up and deemed-distribution decisions were held not to bar taxation in the hands of the real owner. Case-Laws Income Tax Thu, 10 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49270