https://www.taxtmi.com/caselaws?id=181327 Deduction under Section 80M of the Income-tax Act must be computed on dividend income as determined under the Act, not on the gross dividend amount claimed by the assessee. Section 80AA requires the relevant dividend income to be first computed in accordance with statutory provisions before any Chapter VI-A deduction is allowed. If the gross and net amounts happen to be the same on proper computation, deduction may follow that figure, but a deduction on gross dividends as a matter of course is inconsistent with Section 80AA. The legal position stated is therefore that Section 80M relief is confined to dividend income computed under the Act. en-us Thu, 25 Nov 1999 00:00:00 +0530 Wed, 13 Apr 2016 16:06:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181327 Deduction under Section 80M of the Income-tax Act must be computed on dividend income as determined under the Act, not on the gross dividend amount claimed by the assessee. Section 80AA requires the relevant dividend income to be first computed in accordance with statutory provisions before any Chapter VI-A deduction is allowed. If the gross and net amounts happen to be the same on proper computation, deduction may follow that figure, but a deduction on gross dividends as a matter of course is inconsistent with Section 80AA. The legal position stated is therefore that Section 80M relief is confined to dividend income computed under the Act. Case-Laws Income Tax Thu, 25 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181327