63. Provisions applicable where the profits and income of a company are appropriated by the director, & c. of that company

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Where the profits and income of a company for any year of assessment or any part of such profits and income are appropriated by any director, manager, shareholder or executive officer of that company, such profits and income or such part of such profits and income shall form part of the profits and income for that year of assessment of the person by whom such profits or income or part thereof are appropriated and shall be assessable accordingly and, the

Commissioner-General may, taking into account all the circumstances of the case, deduct such profits and income or part thereof under subsection (1) of section 23 for the purposes of ascertaining the profits and income of that company for that year of assessment.