Supreme Court Dismisses Appeal on Section 80M Deduction Referral

The Supreme Court dismissed the appeal against the High Court of Calcutta's order, which refused to refer a question of law regarding deduction under section 80M of the Income Tax Act, 1961. The Court found it unnecessary to refer the question as the Tribunal had already determined that no borrowings were made for earning dividends, making the deduction irrelevant. The appeal was dismissed with costs.

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The Supreme Court dismissed the appeal against the High Court of Calcutta's order, which refused to refer a question of law regarding deduction under section 80M of the Income Tax Act, 1961. The Court found it unnecessary to refer the question as the Tribunal had already determined that no borrowings were made for earning dividends, making the deduction irrelevant. The appeal was dismissed with costs.

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