https://www.taxtmi.com/caselaws?id=49297 Section 35(10) of the Indian Income-tax Act, 1922 authorised withdrawal of rebate for assessment years beginning between 1 April 1948 and 1 April 1955, and its operation was not confined to the narrower period suggested by the assessee. The provision was therefore available for earlier assessment years where rebate on undistributed profits had been used for dividend distribution. Distributions made by a liquidator during voluntary winding up out of accumulated profits were treated as attributable to the company and within the statutory concept of dividend. The withdrawal of rebate was thus upheld on both grounds. en-us Thu, 25 Nov 1965 00:00:00 +0530 Mon, 18 Aug 2014 22:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49297 Section 35(10) of the Indian Income-tax Act, 1922 authorised withdrawal of rebate for assessment years beginning between 1 April 1948 and 1 April 1955, and its operation was not confined to the narrower period suggested by the assessee. The provision was therefore available for earlier assessment years where rebate on undistributed profits had been used for dividend distribution. Distributions made by a liquidator during voluntary winding up out of accumulated profits were treated as attributable to the company and within the statutory concept of dividend. The withdrawal of rebate was thus upheld on both grounds. Case-Laws Income Tax Thu, 25 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49297