https://www.taxtmi.com/caselaws?id=182954 Dividend received on UTI Master Shares issued under the Mutual Fund (Subsidiary) Unit Scheme, 1986 was treated as dividend from units of the Unit Trust of India for section 80M purposes. The proviso to section 80M was read as covering such dividend without creating a separate category for different UTI unit schemes, so the deduction was not available on a full basis beyond the limit applicable for the relevant assessment years. On that reasoning, an assessment allowing excess deduction was considered erroneous and prejudicial to revenue, supporting revisionary action under section 263. en-us Thu, 04 Nov 2010 00:00:00 +0530 Tue, 24 May 2016 17:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182954 Dividend received on UTI Master Shares issued under the Mutual Fund (Subsidiary) Unit Scheme, 1986 was treated as dividend from units of the Unit Trust of India for section 80M purposes. The proviso to section 80M was read as covering such dividend without creating a separate category for different UTI unit schemes, so the deduction was not available on a full basis beyond the limit applicable for the relevant assessment years. On that reasoning, an assessment allowing excess deduction was considered erroneous and prejudicial to revenue, supporting revisionary action under section 263. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182954