October 25.
Appeal by special leave from the judgment and order dated September 23, 1958, of the Bombay High Court in I.T. Reference No.
V. Viswanatha sastri, J. B. Dadwhanji, O. C. Mathur and Ravindra Narain, for the, respondent, 1962.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
11,7121 on July 13, 1955, and before the close of the year of assessment 1955 56 declared an additional dividend of Rs.5,612/ , thereby distributing in the aggregate dividend which was number less than 60 of the total income, reduced by the income tax and super tax payable by it.
The judgment of the Court was delivered by SHAH, J. For the year of account ending March 31, 1955, Afco Private Ltd. a private limited companypany earned a total income which was finally companyputed in assessment proceedings by order of the Income tax Tribunal, at Rs.
N. Sanyal, Additional Solicitor General of India, N. D. Karkhanis and R. N. Sachthey, for the appellant.
The Income tax Officer and the Appellate Assistant Commissioner rejected the claim because in their view the claimant was a companypany to which the provisions of s. 23A of the Income tax Act companyld number be made applicable.
The companypany then claimed rebate at the rate of one anna in the rupee on the amount companyputed according to Schedule 1, Part 1, Item B read with s. 2 of the Finance Act 15 of 1955.
87 of 1957.
of 1962.
