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RAMPUR DISTILLERY AND CHEMICALS CO. LTD. versus COMMISSIONER OF INCOME-TAX


The distribution of the shares held by the company to the shareholders was unconditionally entrusted to the shareholders in 1952 for distribution to the trust. By the shareholders when the shares became unconditionally available by transfer to the trustees for distribution to the shareholders in 1952 and the Income Tax Act, 1922, section 16 (2).

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