1981 (6) TMI 66

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..... ee from the assessment year under appeal and to consider the same for the following year. Briefly speaking, the ITO added Rs. 20,000 being dividend income from Structural Mfg. Co (P) Ltd. which was declared on 12th Nov., 1975. The assessee took up the matter in appeal before the AAC contending that the company decided to give dividend at the rate of 40 per cent on the paid up share capital. But, .....

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..... d the ITO to exclude the second amount. It is against this direction of the AAC that the Revenue has come up in the present appeal contending that the AAC was not justified on facts and in law in holding that the part of the dividend declared on 12th Nov., 1975 should be assessed in the following year. Reliance is placed on the decision of the Hon'ble Supreme Court in the case of Kishinchand Chell .....

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