1966 (10) TMI 2 - SC - Income Tax

Refund - tax illegally collected - additional tax levied on the excess dividend declared by the company - High Court was right in directing the Commissioner to refund the amount of tax - department appeal dismissed

Summary

The Supreme Court held that the levy of additional tax on excess dividend by the Income-tax Officer was illegal. The respondent-company was entitled to a refund of the tax collected. The High Court's order directing the Commissioner to refund the amount was upheld. The appeal was dismissed with no order as to costs.