Failure to make provision for taxation and proposed dividends ‑ Whether amounts to not showing a true and fair view - Companies Law - Letter: No. 3/124/75‑CL‑VI,

Letter: No. 3/124/75 ‑ CL ‑ VI, dated 9 ‑ 7 ‑ 1975. Subject:- Failure to make provision for taxation and proposed dividends ‑ Whether amounts to not showing a true and fair view Query: Whether, in view of the Department, failure to provide for taxation and proposed dividend by the companies in their account amounts to not showing a true and fair view of the state of affairs of the defaulting companies? Answer: Yes.