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TMI Blog1991 (3) TMI 59X X X X Extracts X X X X X X X X Extracts X X X X ..... ar under consideration for the accounting years 1948-49 and 1949-50, respectively, on the basis of the decision of the Bombay High Court under section 23A of the Indian Income-tax Act, 1922 ?" The assessee is a company carrying on the business of manufacture and sale of sugar. The relevant assessment year is 1965-66. The previous year ended on May 31, 1964. During the relevant assessment year, the assessee paid dividends of Rs. 13,89,000 and Rs. 7,82,500 to its shareholders pertaining to the accounting years 1948-49 and 1949-50. In respect of the accounting years 1948-49 and 1949-50, the Income-tax Officer had passed an order imposing additional super tax under section 23A of the Indian Income-tax Act, 1922. It is the case of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the Income-tax Officer could not include the said amounts in the amounts of dividends declared or distributed during the assessment year as the abovereferred amounts pertained to accounting years 1948-49 and 1949-50 and the same had to be distributed to the shareholders during this assessment year because of the action of the Income-tax Officer under section 23A of the Indian Income-tax Act, 1922, having been upheld by the High Court in the reference. The Appellate Assistant Commissioner noted the contention of the assessee to the effect that the above-referred amounts of Rs. 13,89,000 and Rs. 7,82,500 were belatedly distributed as dividends in view of litigation pertaining to the accounting years 1948-49 and 1949-50. In his order da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n view of the lack of availability of the necessary documentary evidence. We, therefore, return the reference unanswered on this aspect with a direction to the Tribunal to hear the appeal on this limited aspect afresh after giving full opportunity to both sides to produce relevant documents. Two more questions are required to be considered by this court in view of the order of this court on notice of motion herein. The said questions are as under " (2) Whether, on the facts and circumstances of the case, the Tribunal erred in law in allocating to agricultural section Rs. 3,50,805 out of total donations of Rs. 5,16,573 and allowing relief under section 88 of the Income-tax Act, 1961, only on Rs. 1,65,768 ? (3) Whether, on the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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