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![Interest on Amount Borrowed for declaring Dividend is Deductible from Income Tax even in the Absence of Profit Reserve: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Interest on Amount Borrowed for declaring Dividend is Deductible from Income Tax even in the Absence of Profit Reserve: Madras HC [Read Judgment]")
Interest on Amount Borrowed for declaring Dividend is Deductible from Income Tax even in the Absence of Profit Reserve: Madras HC [Read Judgment]
In a recent Judgment, a division bench of Madras High Court has held that, the interest on the amount borrowed for declaring dividend was allowable as...