https://www.taxtmi.com/caselaws?id=49406 Dividends deemed distributed under section 23A of the Income-tax Act, 1922 were taxable only in the hands of the registered shareholder named in the company's books. A legal representative, even if holding probate or letters of administration, did not become a shareholder for this purpose. Section 24B was confined to recovery of tax that had accrued or become payable by the deceased during his period of legal personality, and did not extend to taxing notional income arising after death. In the absence of a specific statutory machinery to assess such deemed dividend in the estate or representative's hands, the assessment was invalid and the deemed dividend was not assessable against the legal representative. en-us Mon, 02 Dec 1963 00:00:00 +0530 Tue, 12 May 2026 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49406 Dividends deemed distributed under section 23A of the Income-tax Act, 1922 were taxable only in the hands of the registered shareholder named in the company's books. A legal representative, even if holding probate or letters of administration, did not become a shareholder for this purpose. Section 24B was confined to recovery of tax that had accrued or become payable by the deceased during his period of legal personality, and did not extend to taxing notional income arising after death. In the absence of a specific statutory machinery to assess such deemed dividend in the estate or representative's hands, the assessment was invalid and the deemed dividend was not assessable against the legal representative. Case-Laws Income Tax Mon, 02 Dec 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49406