![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...
![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]")
![No Income Tax or Stamp duty shall be levied on Compensation for Land Acquisition: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Kerala-High-Court-Tax-Scan.jpg "No Income Tax or Stamp duty shall be levied on Compensation for Land Acquisition: Kerala HC [Read Judgment]")
![No Jurisdiction to Dy. Director of Income Tax to file complaint for Contempt against Income Tax Officers: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "No Jurisdiction to Dy. Director of Income Tax to file complaint for Contempt against Income Tax Officers: SC [Read Judgment]")
Interest u/s 243B of Income Tax Act cannot be levied where the Income of the Assessee is Subject to TDS; ITAT Delhi [Read Order]
The Income Tax Appellate Tribunal has recently in an appeal filed by the Revenue against the Carpool Limited held that where the income is deductible under section 195 of the Income Tax, interest u/s...
SC excludes the Operative Period of Interim stay order which affects Passing of Assessment Order For the purpose of S. 158BE(2) of Income Tax Act [DOWNLOAD JUDGMENT]
The Supreme Court in an appeal filed by VLS FINANCE LTD against the Commissioner of Income Tax held that for the purpose of computation of limitation under section 158BE(2) of the Income Tax Act, the...
A Foreign Company’s Obligation to Withhold Presumptive Tax and Deposit it with the Department u/s 44D(b) of the Income Tax Act is Optional; Calcutta HC ]DOWNLOAD JUDGMENT]
The Calcutta High Court, while deciding a Writ petition filed by the Timken India Limited & Others against the Deputy Commissioner of Income Tax, Kolkata, under Article 226 of the Constitution,...
CBDT directs field offices to refrain from raising tax demand on assessees if TDS already deducted
The Central Board of Direct Taxes (CBDT) had issued directions to the field offices that taxpayers whose tax has been deducted at source but not deposited to the Government’s account by the deductor,...
