Deduction entitlement under section 80K follows the company's entitlement to section 80J even if not allowed due to lack of profits. A shareholder may claim a deduction under section 80K if the company is legally entitled to a deduction under section 80J, regardless of whether that deduction was actually allowed to the company due to insufficient profits; however, shareholders cannot claim any additional deduction when the company later utilises a carried forward deficiency that is allowed in the company's hands.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction entitlement under section 80K follows the company's entitlement to section 80J even if not allowed due to lack of profits.
A shareholder may claim a deduction under section 80K if the company is legally entitled to a deduction under section 80J, regardless of whether that deduction was actually allowed to the company due to insufficient profits; however, shareholders cannot claim any additional deduction when the company later utilises a carried forward deficiency that is allowed in the company's hands.
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