Bombay High Court Upholds Assessee in Income Tax Reference on Section 80M Deduction. Deduction under Section 80M is to be computed on gross dividend income without deducting interest and other expenditure incurred for earning such dividend, as per Section 80AA read with Section 80M of the Income Tax Act, 1961.
30 Sep 2005The case involved a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal to the Bombay High Court. The ass...
