appeal by special leave from the judgment dated december 12 1960 of the punjab high companyrt in income tax reference number 2 of 1958.
k. daphtary attorney general r. ganapathy iyer and r.n.
the assessee after failing to get a certificate under s. 66a 2 of the income tax act obtained special leave from this court and number the appeal is before us for disposal.
it held 11950 b preference shares in anumberher companypany called rohtas industries limited in the previous year calendar year ending december 31 1953 .
the latter companypany paid a sum of rs.
civil appellate jurisdiction civil appeal number 613/ 1963.
rohtas industries limited hereinafter referred to as the declaring companypany had in the year 1946 issued shares at a premium and the share premiums so received by it were kept separate under the head capital reserve.
the income tax appellate tribunal on an appeal by the department however agreed with the income tax officer and allowed the appeal.
50787/ as dividend on the said preference shares to the assessee and for the assessment year 1954 55 this sum was taxed in the hands of the assessee as dividend within s. 2 6a of the indian income tax act 1922 by the income tax officer.
k. kapur k. k. jain bishambar lal khanna and s. murthy for the appellant.
april 2 1964.
the appellate assistant companymissioner on appeal by the assessee held it number to be taxable.
the judgment of the companyrt was delivered by sikri j. the appellant is a joint stock companypany here inafter referred to as the assessee having its registered office in delhi.
sachthey for the respondent.
