Paid - Definition - Law Dictionary Home Dictionary Definition paid

Definition :

Paid, means payable and is equivalent to offered or tendered, Mohammed Basbir v. Azizul Kadar, AIR 1967 All 1: (1966) AWR (HC) 442.

Paid, takes in every receipt by the employee from the employer whether it was due to him or not, Commissioner of Income Tax, Kerala and Coimbatore v. L.W. Russell, AIR 1965 SC 49. [Income Tax Act, 1922, s. 7(1)]

Paid, the expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. In general, dividend may be said to be paid within the meaning of s. 16(2) when the company discharges its liability and makes the amount of dividend unconditionally available to the member entitled thereto, J. Dalmia v. Commissioner of Income Tax, AIR 1964 SC 1866: (1964) 7 SCR 579. [Income Tax Act, 1922, s. 16(2)]

The expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. The only difference between the expression 'paid' and the expression 'distribution' is that the latter necessarily involves the idea of division between several persons which is the same as payment to several persons, Punjab Distilling Industries Ltd. v. C.I.T., AIR 1965 SC 1862: (1965) 3 SCR 1.

The proper interpretation to be placed, on the expression 'paid' (in R. 10) is 'ought to have been paid', N.B. Sanjana, Assistant Collector of Central Excise v. Elphinstone Spinning and Weaving Mills Company Ltd., AIR 1971 SC 2039: (1971) 1 SCC 337: (1971) 3 SCR 506. [Central Excise Rule, 1944, R. 10]

The word 'paid' in s. 16 of the Income-tax Act, 1922 does not contemplate actual receipt of the dividend by the member. The dividend is paid when the company discharges its liability and makes the amount of dividend unconditionally available to the member, Benaras State Bank Ltd. v. Commissioner of Income-tax, AIR 1970 SC 281. [Income Tax Act, 1922 s. 16 (2)]

The obligation to pay is fulfilled by making an offer of payment, Straw Board Manufacturing Co. Ltd. v. Govind, AIR 1962 SC 1500.