https://www.taxtmi.com/caselaws?id=202841 The case involved the issue of whether the deduction under section 80M of the Income Tax Act is available for dividend income and whether it should be allowed on a gross or net basis. The Tribunal decided that the deduction under section 80M should be allowed on a gross basis for dividend income, except for dividends from UTI, which should be on a net basis. The order of the CIT(A) was partly set aside, directing the Assessing Officer to allow the deduction accordingly. The appeals filed by the Revenue were partly allowed. en-us Fri, 09 Oct 2009 00:00:00 +0530 Fri, 07 Jun 2013 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202841 The case involved the issue of whether the deduction under section 80M of the Income Tax Act is available for dividend income and whether it should be allowed on a gross or net basis. The Tribunal decided that the deduction under section 80M should be allowed on a gross basis for dividend income, except for dividends from UTI, which should be on a net basis. The order of the CIT(A) was partly set aside, directing the Assessing Officer to allow the deduction accordingly. The appeals filed by the Revenue were partly allowed. Case-Laws Income Tax Fri, 09 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202841