CIT vs. NATIONAL TRAVEL SERVICES
Appeal Is allowed set
ITA - 309 / 2011HC Delhi11 Jul 2011
Section 2
have not been.;registered in
the books of .'the, company , Is
not a
."shareholder"-in respect of .such shares-within
the meaning of Section 18(5) -of 'the Income
Tax Act, notwithstanding-his equitable rigl^t to
the dividend , on- such = shares, . and is; -no<^
therefore, ; entitled; ;-to . , have ;- this ... additiori:.o.f the Income Tax pal, Id
the company in respect of those sharesfj jat;;)
-Claim credit for the; tax deducted at
under Section 18(5) .of the Act. The'Apex C
held.as follows:
n
' . ' n •i
"The word "holder of a share" are really equal
' to-the word '•'shareholder
