https://www.taxtmi.com/caselaws?id=49270 The Supreme Court held that the Hindu undivided family (HUF) was liable to be taxed on dividend income from shares, affirming that the real owner, not just the registered shareholder, is responsible for tax liability. The Court clarified that Section 16(2) of the Indian Income-tax Act, 1922, does not exempt dividend income from taxation based on registration alone. The decision emphasized that tax liability is determined by actual ownership of shares and receipt of income, dismissing the appeal and upholding the HUF's tax liability for the dividend income. 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 The Supreme Court held that the Hindu undivided family (HUF) was liable to be taxed on dividend income from shares, affirming that the real owner, not just the registered shareholder, is responsible for tax liability. The Court clarified that Section 16(2) of the Indian Income-tax Act, 1922, does not exempt dividend income from taxation based on registration alone. The decision emphasized that tax liability is determined by actual ownership of shares and receipt of income, dismissing the appeal and upholding the HUF's tax liability for the dividend income. Case-Laws Income Tax Thu, 10 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49270