SC dismisses Plea Challenging Income Tax Exemption to Political Parties
The Supreme Court of India today dismissed the petition challenging the provisions of the Income Tax Act and the Representation of Peoples Act giving...
![Delhi HC quashes Income Tax notices issued against Airtel [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/12/Airtel-Taxscan.jpg "Delhi HC quashes Income Tax notices issued against Airtel [Read Judgment]")
Income Tax Searches lead to Admission of Undisclosed Incomes of Rs. 2600 Crore since 8th November, says Finance Ministry
The Income Tax Department has continuously been carrying out investigations since the de-monetisation of Old High Denomination (OHD) currency announced by the Government on 8th November, 2016. While...
CAG slams Income Tax Dept for loss of 45000 crores by granting Irregular benefits to Infrastructure Companies
The Government auditor CAG today said that the Income Tax Department has granted irregular benefits to the infrastructure companies without verification, which resulted in resulted in a loss of 4500...
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 deduction under section 36(1)(iii) of the Income...
![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]")
![Compensation received for Compulsory Land Acquisition not subject to Income Tax: CBDT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2016/06/Income-Tax.jpg "Compensation received for Compulsory Land Acquisition not subject to Income Tax: CBDT [Read Circular]")