Officer dated March 11, 1955 was companyfirmed by the Appellate Assistant Commissioner in appeal and, on further appeal, by the Tribunal.
The Judgment of the Court was delivered by Ramaswami, J. This appeal is brought, by special leave, from the judgment of the High Court of Bombay dated September 27, 1962 in income tax Reference No.39 of 1961.
T. Desai, Gopal Singh and R. N. Sachthey, for the appellant, K. Sen, O. P. Malhotra, Y. P. Tarvei and Ravinder Narain for the respondent.
Appeal by special leave from the judgment and Order dated September 27, 1962 of the Bombay High Court in Income tax Reference No.
The respondent Godavari Sugar Mills Ltd. is a Public limited companypany.
The assessment year in this case is 1949 50.
The relevant accounting year ended on May 31, 1948.
At that meeting a sum of Rs.
The companytention was rejected by the Income Tax Officer.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
28 of 1966.
The Annual General Meeting of the respondent was held on December 30, 1948.
The order of the Income tax.
3,68,433/ was declared as the dividend.
In support of this appeal Mr. S. T. Desai put forward the argument that s. 23A of the Act companytemplated a declaration of dividend number only on the date of the Annual General Meeting 802 .
39 of 1961.
30 of 1949 hereinafter referred to as the 1949 Act which came into force on April 26, 1949.
