JUDGMENT

SHAH J.-For the year of account ending March 31, 1955, Afco Private Ltd., a private limited company, earned a total income which was finally computed in assessment proceedings by order of the Income-tax Appellate Tribunal, at Rs. 49,843. The company declared a dividend of Rs. 11,712 on July 13, 1955, and before the close of the year of assessment 1955-56 declared an additional dividend of Rs. 5,612, thereby distributing in the aggregate dividend which was not less than 60% of the total income, reduced by the income-tax and super-tax payable by it. The company then claimed rebate at the rate of one anna in the rupee on the amount computed according to Schedule I, Part I, item B, read with section 2 of the Finance Act (15 of 1955), The Income-tax Officer and the Appellate Assistant Commissioner rejected the claim because in their view the claimant was a company to which the provisions of section 23A of the Income-tax Act could not be made applicable. In appeal, the Income-tax Appellate Tribunal, Bombay, reversed the order of the income-tax authorities. The Tribunal opined that the expression "cannot be made applicable " in item B of Part I of Schedule I of the Finance Act (15