https://www.taxtmi.com/caselaws?id=49521 Whether a corporate distribution of transferable rights to subscribe for another company's shares constitutes a dividend was resolved by treating the right as a property/right with measurable market value that conferred an economic benefit on shareholders; the inclusive definition of dividend was applied and the distribution was held to be taxable as dividend, the form of the corporate resolution not altering the substance of the benefit, and the appeal dismissed in favour of the revenue. en-us Tue, 22 Nov 1960 00:00:00 +0530 Mon, 01 Sep 2014 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49521 Whether a corporate distribution of transferable rights to subscribe for another company's shares constitutes a dividend was resolved by treating the right as a property/right with measurable market value that conferred an economic benefit on shareholders; the inclusive definition of dividend was applied and the distribution was held to be taxable as dividend, the form of the corporate resolution not altering the substance of the benefit, and the appeal dismissed in favour of the revenue. Case-Laws Income Tax Tue, 22 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49521