Supreme Court of India
Padmavati R. Saraiya and Others v. Commissioner of Income-tax Bombay City-1
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that the Pakistan portion of the dividend has not been credited or paid within the meaning of s. 16(2) of the Income Tax Act.
Judgment, page 9
From the headnote
Income-tax Act (11 of 1922), s.r. 16(2), 49AA and lndo-Paki't"" agreement dated 10th December, 1947-Scope of. The assessee was a share-bolder in a company carrying on business both in India and Pakistan. It declared dividend out of the profits accruing to it in both the countries. For the following year, having de clared the dividend similarly, the company also passed a resolution that half the amount of the dividend was payable on O'f after a certain date and the balance was payable "within two months after -remittances from Pakistan became free". On the two questions, namely : (i) whether
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