Supreme Court of India
Punjab Distilling Industries Lid. v. Commissioner of Income-tax, Punjab
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
In the result, the appeal fails and is dismissed with costs.
Judgment, page 10
From the headnote
India;, Income··t"x Act, 1022 (11 0£ 1922), s. 2( ) (d)--Distribut:on on reduction of company's cap'tal to the extent oJ accnmulated pro fits treated as 'dividend'-Si:cli dividend whether 'income' under Entry 54, List I, Government of India Act, 1935-Section whether ultra vires. a R 'Distribution'-Meaning of-Whether synonymous with 'paid' or 'credited' in s. 16(2) Gf the Income-tax Act-Notional distribution whether takes place on issue of certificate under s. 61 ( 4) of the Indian Companies Act, 1913. ' The appellant company reduced its capital and the reduction """ confirmed by the High
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