https://www.taxtmi.com/caselaws?id=235467 The court ruled in favor of the respondent-assessee, holding that the deduction under Section 80M of the Income Tax Act should be allowed based on the distribution of dividends before the due date, irrespective of the specific financial year to which the dividends relate. The court emphasized that the legislative intent was to ensure dividend income redistribution to shareholders and rejected the Revenue's argument that such an interpretation would lead to absurd results. The judgment affirmed the respondent's entitlement to the deduction under Section 80M, highlighting the importance of timely dividend distribution for claiming the deduction. en-us Tue, 16 Jul 2013 00:00:00 +0530 Sat, 26 Oct 2013 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235467 The court ruled in favor of the respondent-assessee, holding that the deduction under Section 80M of the Income Tax Act should be allowed based on the distribution of dividends before the due date, irrespective of the specific financial year to which the dividends relate. The court emphasized that the legislative intent was to ensure dividend income redistribution to shareholders and rejected the Revenue's argument that such an interpretation would lead to absurd results. The judgment affirmed the respondent's entitlement to the deduction under Section 80M, highlighting the importance of timely dividend distribution for claiming the deduction. Case-Laws Income Tax Tue, 16 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235467