https://www.taxtmi.com/article/detailed?id=5251 The author contends that dividend paid by a company is a payment, expenditure and liability - not income of the company - and that under Article 366 and Union taxing entries the power to tax income does not extend to taxing such distributed profits; therefore a levy under Section 115-O appears ultra vires the Constitution and open to legal challenge. en-us Mon, 26 Aug 2013 07:41:20 +0530 Mon, 26 Aug 2013 07:41:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5251 The author contends that dividend paid by a company is a payment, expenditure and liability - not income of the company - and that under Article 366 and Union taxing entries the power to tax income does not extend to taxing such distributed profits; therefore a levy under Section 115-O appears ultra vires the Constitution and open to legal challenge. Articles Income Tax Mon, 26 Aug 2013 07:41:20 +0530 https://www.taxtmi.com/article/detailed?id=5251