https://www.taxtmi.com/caselaws?id=3949 The High Court held that the net dividend, after deducting the interest on borrowed funds, should be considered for deduction under Section 80M of the Income Tax Act. The Court emphasized aligning the deduction computation with the Act's provisions, specifically Sections 56 and 57. The Court overturned the Tribunal's decision and ruled in favor of the Revenue, setting aside the allowance of investment deduction and clarifying the treatment of interest on borrowed money in relation to dividend income. en-us Mon, 26 Feb 2007 00:00:00 +0530 Sat, 26 Jul 2008 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3949 The High Court held that the net dividend, after deducting the interest on borrowed funds, should be considered for deduction under Section 80M of the Income Tax Act. The Court emphasized aligning the deduction computation with the Act's provisions, specifically Sections 56 and 57. The Court overturned the Tribunal's decision and ruled in favor of the Revenue, setting aside the allowance of investment deduction and clarifying the treatment of interest on borrowed money in relation to dividend income. Case-Laws Income Tax Mon, 26 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3949