https://www.taxtmi.com/caselaws?id=58456 The Appellate Tribunal allowed the appeal in the case concerning the calculation of dividend for the assessment year 1972-73. The Tribunal found the declared dividend of Rs. 4,82,000 to be reasonable based on the commercial profits of the assessee, considering adjustments for doubtful debts, goodwill amortization, and interest paid under the IT Act. The Tribunal emphasized the prudent approach of the Directors in retaining profits for business expansion due to uncertain credit facilities. The order u/s 104 was cancelled, taking into account the small profits of the assessee and the circumstances surrounding the dividend declaration. en-us Sat, 20 Mar 1982 00:00:00 +0530 Mon, 20 Dec 2010 11:21:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58456 The Appellate Tribunal allowed the appeal in the case concerning the calculation of dividend for the assessment year 1972-73. The Tribunal found the declared dividend of Rs. 4,82,000 to be reasonable based on the commercial profits of the assessee, considering adjustments for doubtful debts, goodwill amortization, and interest paid under the IT Act. The Tribunal emphasized the prudent approach of the Directors in retaining profits for business expansion due to uncertain credit facilities. The order u/s 104 was cancelled, taking into account the small profits of the assessee and the circumstances surrounding the dividend declaration. Case-Laws Income Tax Sat, 20 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58456