https://www.taxtmi.com/caselaws?id=261611 The appeal challenging the deduction of gross dividend under Section 80-M for the assessment year 2003-04 was dismissed. The Tribunal upheld the allowance of deduction on a gross basis as the respondent had invested using its own funds, differentiating the case from Distributors (Baroda) P. Ltd. where borrowed money was involved. Additionally, the Tribunal affirmed the deduction for profits of the Marketing Division under Section 80IB, following precedent that marketing activities are considered part of an industrial undertaking. The appeal was dismissed without costs awarded. en-us Mon, 29 Jun 2015 00:00:00 +0530 Thu, 16 Jul 2015 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261611 The appeal challenging the deduction of gross dividend under Section 80-M for the assessment year 2003-04 was dismissed. The Tribunal upheld the allowance of deduction on a gross basis as the respondent had invested using its own funds, differentiating the case from Distributors (Baroda) P. Ltd. where borrowed money was involved. Additionally, the Tribunal affirmed the deduction for profits of the Marketing Division under Section 80IB, following precedent that marketing activities are considered part of an industrial undertaking. The appeal was dismissed without costs awarded. Case-Laws Income Tax Mon, 29 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261611