2015 (4) TMI 637

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....p; Judgments The Court :- The question for consideration formulated at the time of admission of the appeal pertaining to the Assessment Year 2001-02 reads as follows :- "Whether on the facts and in the circumstances of the case Income Tax Appellate Tribunal was justified in law in deleting the addition made by the Assessing Officer under Section 2(22)(e) of the Income Tax Act, 1961?" &....

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....lf, or for the individual benefit, of any such shareholder, to the extent to which the company in either case possesses accumulated profits". It is apparent from the language of the clause quoted above that before any payment can take the character of dividend within the meaning of the aforesaid provision it has to be shown that there were accumulated profits lying with the company which made t....

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....n a judgment of the Apex Court in the case of Bharat Fire And General Insurance Ltd. v. C.I.T, New Delhi reported in (1964) Vol.LIII 108. The facts and circumstances in that case were altogether different. What had happened in that case was the assessee received a sum of Rs. 50,787/- by way of dividend from Rohtas Industries Ltd.. Rohtas Industries Ltd. in the year 1945 had created a Capital Reser....