High Court rules in favor of assessee on IT Act deduction

The High Court of Bombay ruled in favor of the assessee regarding a deduction under section 23(2) of the IT Act, 1961. The deduction of interest from dividend income was not pressed and therefore not answered. No costs were awarded.

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The High Court of Bombay ruled in favor of the assessee regarding a deduction under section 23(2) of the IT Act, 1961. The deduction of interest from dividend income was not pressed and therefore not answered. No costs were awarded. (Case Citation: 1987 (3) TMI 524 - BOMBAY HIGH COURT)

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