https://www.taxtmi.com/caselaws?id=49429 A corporate resolution recharacterising amounts previously declared, credited or distributed as dividends cannot retrospectively alter their tax character; under the statutory rule treating dividends as income in the year of payment, credit or distribution, liability to income tax attaches at that time and subsequent refunds or internal company steps do not relieve shareholders of tax liability on those dividends. en-us Thu, 19 Apr 1962 00:00:00 +0530 Wed, 27 Aug 2014 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49429 A corporate resolution recharacterising amounts previously declared, credited or distributed as dividends cannot retrospectively alter their tax character; under the statutory rule treating dividends as income in the year of payment, credit or distribution, liability to income tax attaches at that time and subsequent refunds or internal company steps do not relieve shareholders of tax liability on those dividends. Case-Laws Income Tax Thu, 19 Apr 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49429