https://www.taxtmi.com/caselaws?id=253236 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) regarding the interpretation of Section 80M of the Income Tax Act. The Court agreed with the ITAT's calculation method, stating that the deduction under Section 80M should be based on the dividend income forming part of the gross total income after deducting interest attributable to the acquisition of shares. The Court dismissed the appellant's appeal and affirmed the ITAT's order in favor of the assessee. en-us Mon, 13 Oct 2014 00:00:00 +0530 Wed, 19 Nov 2014 08:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253236 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) regarding the interpretation of Section 80M of the Income Tax Act. The Court agreed with the ITAT's calculation method, stating that the deduction under Section 80M should be based on the dividend income forming part of the gross total income after deducting interest attributable to the acquisition of shares. The Court dismissed the appellant's appeal and affirmed the ITAT's order in favor of the assessee. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253236