https://www.taxtmi.com/caselaws?id=254635 The Court ruled in favor of the Petitioner, setting aside the notice issued under Section 148 of the Income Tax Act. The dispute centered on the correct interpretation of Sections 80M and 115O. The Court held that Section 115O (5) did not disallow the deduction claimed under Section 80M as it pertained to dividends received, not distributed profits subject to tax under Section 115O. The judgment emphasized the importance of accurately applying tax laws to ensure deductions are granted appropriately. en-us Tue, 16 Dec 2014 00:00:00 +0530 Mon, 09 Feb 2015 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254635 The Court ruled in favor of the Petitioner, setting aside the notice issued under Section 148 of the Income Tax Act. The dispute centered on the correct interpretation of Sections 80M and 115O. The Court held that Section 115O (5) did not disallow the deduction claimed under Section 80M as it pertained to dividends received, not distributed profits subject to tax under Section 115O. The judgment emphasized the importance of accurately applying tax laws to ensure deductions are granted appropriately. Case-Laws Income Tax Tue, 16 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254635