Delhi HC quashes Reassessment Notices, Rules Interest Income from NCDs not subject to Dividend Tax

The Delhi High Court quashed reassessment notices, ruling that interest income from Non-Convertible Debentures (NCDs) is not subject to dividend tax. The Court determined that the tax authorities had incorrectly categorized interest income as dividend income, which is subject to different tax rules. This decision clarifies the tax treatment of interest from NCDs, ensuring that it is correctly assessed according to applicable income tax provisions.