https://www.taxtmi.com/caselaws?id=58100 Where an approved amalgamation scheme vested the undertaking in the transferee company from the appointed date, income from supplies made thereafter was not taxable in the transferor non-resident, as the business was carried on on behalf of the transferee and no taxable profit margin remained with the transferor. Dividend income, however, accrued on declaration under section 8 of the Income-tax Act, and foreign exchange controls affected only remittance, not the year of taxability. The business income issue was decided in favour of the assessee, while dividend income remained taxable in the years of declaration. en-us Tue, 22 Jan 1985 00:00:00 +0530 Fri, 17 Dec 2010 13:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58100 Where an approved amalgamation scheme vested the undertaking in the transferee company from the appointed date, income from supplies made thereafter was not taxable in the transferor non-resident, as the business was carried on on behalf of the transferee and no taxable profit margin remained with the transferor. Dividend income, however, accrued on declaration under section 8 of the Income-tax Act, and foreign exchange controls affected only remittance, not the year of taxability. The business income issue was decided in favour of the assessee, while dividend income remained taxable in the years of declaration. Case-Laws Income Tax Tue, 22 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58100