M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I
C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68
40 ITR 142 (SC).
Under the Finance Act, 1951, a provision was enacted to
discourage the declaration of dividend disproportionate to the
declared income. It provided that where the "total income" exceeded
the dividend by a certain amount, a rebate would be allowed, and
where the dividend exceeded the "total income" by such amount, "an
additional income tax" would
