Cheques for Rs.
69,000 issued by the Glass Works in favour of the Bank in payment of the dividend were encashed by the Bank on December 31, 1949.
The dividend received by the Bank has .been brought to tax in the assessment year 1950 51.
121 of 1956.
Appeal by special leave from the judgment and order dated September 21, 1964 of the Allahabad.
The State of Benaras in which the Bank had its registered office merged with the Indian Union on December 1, 1949.
The Tribunal has submitteda statement of the case that the only relevant facts proved are that the dividend was declared on July 25, 1949 and the Bank encashed the dividend warrants on December 31, 1949.
High, Court in Income tax Misc.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
T. Desai, A.K. Verma and Y.B. Dadachanji, for the appellant.
Case No.
Jagdish Swarup, Solicitor General, S.K. Aiyar, R.N. Sachthey and B.D. Sharma, for the respondent.
The appeal must therefore be decided on the footing that the dividend warrants were handed over to the Bank by the Glass Works on August 3, 1949, is number proved.
The Judgment of the Court was delivered by Shah, Ag.
The material facts which have a bearing on the point in issue are these.
C.J. By order dated August 23, 1968, we called for a supplementary statement on the issue whether dividend warrants were delivered by he Glass Works to the Bank on August 3, 1949.
The year of account of the Bank.is the calendar year.
1033 of 1966.
The Glass Works declared a dividend at a General Meeting on July 25, 1949.
