https://www.taxtmi.com/caselaws?id=6465 The Supreme Court upheld the High Court's decision that shareholders were entitled to the benefit of section 80K of the Income-tax Act, 1961, even if the company did not actually claim deductions under section 80J. The Court clarified that entitlement to deduction under section 80J was sufficient for shareholders to claim benefits under section 80K. Additionally, the Court rejected the argument that section 80A(2) limited deductions to assessable income, affirming that shareholders could claim benefits under section 80K even if the company had no assessable income. The company was directed to obtain the necessary certificates for tax deductions accordingly. en-us Tue, 09 Dec 1975 00:00:00 +0530 Fri, 05 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6465 The Supreme Court upheld the High Court's decision that shareholders were entitled to the benefit of section 80K of the Income-tax Act, 1961, even if the company did not actually claim deductions under section 80J. The Court clarified that entitlement to deduction under section 80J was sufficient for shareholders to claim benefits under section 80K. Additionally, the Court rejected the argument that section 80A(2) limited deductions to assessable income, affirming that shareholders could claim benefits under section 80K even if the company had no assessable income. The company was directed to obtain the necessary certificates for tax deductions accordingly. Case-Laws Income Tax Tue, 09 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6465