Commissioner Of Income Tax vs Godavari Sugar MillLtd.

Authority: Supreme Court Date: 1966-10-10 AY: 1949-50 Section: 104, 109(i) Acts: Indian Income Tax Act 1922, Public Companies (Limitation of Dividends) Ordinance 1948, Public Companies (Limitation of Dividends) Act 1949, General Clauses Act 1897 Result: Assessee Citation: (1967) 63 ITR 310 (SC) Justices: J.C. Shah, V. Ramaswami & V. Bhargava, JJ. Appeal No: Civil Appeal No. 28 of 1966
Whether an order under section 23A of the Income Tax Act 1922 could be validly made against a company to which the Public Companies (Limitation of Dividends) Ordinance 1948 applied on the date of its annual general meeting, thereby restricting the dividend it could legally declare --- Held No.

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