https://www.taxtmi.com/caselaws?id=256119 The Court set aside the Tribunal's decision on deduction under Section 80M, holding that it should be based on net income, not gross dividend received. The Court also reversed the deletion of the addition related to Closing Stock, emphasizing the need for an accounting method reflecting true profits. The judgment favored the Revenue, reinstating the Assessing Officer's decisions on both issues. en-us Fri, 30 Jan 2015 00:00:00 +0530 Wed, 04 Feb 2015 06:20:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256119 The Court set aside the Tribunal's decision on deduction under Section 80M, holding that it should be based on net income, not gross dividend received. The Court also reversed the deletion of the addition related to Closing Stock, emphasizing the need for an accounting method reflecting true profits. The judgment favored the Revenue, reinstating the Assessing Officer's decisions on both issues. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256119