Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]

Dividends - Business Income - Delhi HC - Appeal - PNB Housing Finance Ltd - TAXSCAN

In a recent ruling in favour of the Income Tax Department, a Division Bench of the Delhi High Court has held that, dividends of investments held as stock-in-trade are not deductible from the business income and dismissed the appeal of the Punjab National Bank Housing Finance Ltd. On behalf of the appellant-revenue, Mr. Zoheb Hossain…

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