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1981 (6) TMI 66
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....s directed the ITO ("ITO" for short) to exclude the dividend income of the assessee from the assessment year under appeal and to consider the same for the following year. Briefly speaking, the ITO added Rs. 20,000 being dividend income from Structural & Mfg. Co (P) Ltd. which was declared on 12th Nov., 1975. The assessee took up the matter in appeal before the AAC contending that the company decid....
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.... balance became due during the following assessment year. Accordingly, he directed the ITO to exclude the second amount. It is against this direction of the AAC that the Revenue has come up in the present appeal contending that the AAC was not justified on facts and in law in holding that the part of the dividend declared on 12th Nov., 1975 should be assessed in the following year. Reliance is pla....