https://www.taxtmi.com/circulars?id=8772 Shareholder entitlement to a deduction under section 80K is contingent on the company having actually obtained the deduction under section 80J and is limited to the extent of the deduction obtained; shareholders are not entitled when the company fails to obtain the company deduction due to inadequate profits. The Board withdraws Instruction No.227 and directs remedial reassessment or revision to withdraw improperly granted shareholder deductions from assessment year 1968 69 onwards. en-us Fri, 11 Dec 1970 00:00:00 +0530 Thu, 26 May 2011 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8772 Shareholder entitlement to a deduction under section 80K is contingent on the company having actually obtained the deduction under section 80J and is limited to the extent of the deduction obtained; shareholders are not entitled when the company fails to obtain the company deduction due to inadequate profits. The Board withdraws Instruction No.227 and directs remedial reassessment or revision to withdraw improperly granted shareholder deductions from assessment year 1968 69 onwards. Circulars Income Tax Fri, 11 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8772