https://www.taxtmi.com/caselaws?id=2896 The Court upheld the Tribunal's decision to dismiss the Revenue's appeal regarding the deduction under Section 80M of the Income Tax Act for the Assessment Year 1997-98. It found that the Assessee Company met all requirements of Section 80M by redistributing dividend income to shareholders before the due date, aligning with the legislative intent. Despite the dividend being related to a subsequent year, the Court determined that the literal interpretation of the law did not lead to an absurd result and supported the Tribunal's decision to allow the deduction. As a result, the appeal was dismissed. en-us Wed, 23 Jan 2008 00:00:00 +0530 Tue, 14 Apr 2009 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2896 The Court upheld the Tribunal's decision to dismiss the Revenue's appeal regarding the deduction under Section 80M of the Income Tax Act for the Assessment Year 1997-98. It found that the Assessee Company met all requirements of Section 80M by redistributing dividend income to shareholders before the due date, aligning with the legislative intent. Despite the dividend being related to a subsequent year, the Court determined that the literal interpretation of the law did not lead to an absurd result and supported the Tribunal's decision to allow the deduction. As a result, the appeal was dismissed. Case-Laws Income Tax Wed, 23 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2896