https://www.taxtmi.com/caselaws?id=69569 The Tribunal held that the Commissioner erred in revising the assessment order related to the deduction under section 80M of the Income-tax Act, 1961. The Tribunal disagreed with the Commissioner's interpretation of section 80AA and its impact on section 80M, emphasizing that the deduction should be computed based on the dividend income as per sections 57(1) and 57(3), not the gross dividend. The Tribunal concluded that the unabsorbed depreciation should not be set off against the dividend income before calculating the deduction under section 80M. Consequently, the Tribunal set aside the Commissioner's order and allowed the assessee's appeal. en-us Thu, 22 Oct 1992 00:00:00 +0530 Thu, 07 Apr 2011 16:50:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69569 The Tribunal held that the Commissioner erred in revising the assessment order related to the deduction under section 80M of the Income-tax Act, 1961. The Tribunal disagreed with the Commissioner's interpretation of section 80AA and its impact on section 80M, emphasizing that the deduction should be computed based on the dividend income as per sections 57(1) and 57(3), not the gross dividend. The Tribunal concluded that the unabsorbed depreciation should not be set off against the dividend income before calculating the deduction under section 80M. Consequently, the Tribunal set aside the Commissioner's order and allowed the assessee's appeal. Case-Laws Income Tax Thu, 22 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69569