1990 (4) TMI 39 - HC - Income Tax

Summary

The High Court of Delhi dismissed the appeal regarding the levy of additional tax for non-distribution of dividend in the assessment year 1976-77. The Commissioner of Income-tax (Appeals) and the Tribunal both concluded that non-declaration of dividend was justified based on business considerations. The court held that this was a question of fact, not law, and upheld the decision to delete the tax. No costs were awarded. (Case citation: 1990 (4) TMI 39 - DELHI High Court)