Interest on deferred dividends treated as allowable business deduction when statutorily payable, enabling company tax relief. Interest that a company is statutorily obliged to pay on dividends deferred under the amendment constitutes an essential business expenditure deductible in computing profits and gains of business or profession; present liability payable in future instalments does not affect its allowability, and exclusion of the instalments from a separate statutory provision does not alter deductibility.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on deferred dividends treated as allowable business deduction when statutorily payable, enabling company tax relief.
Interest that a company is statutorily obliged to pay on dividends deferred under the amendment constitutes an essential business expenditure deductible in computing profits and gains of business or profession; present liability payable in future instalments does not affect its allowability, and exclusion of the instalments from a separate statutory provision does not alter deductibility.
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