https://www.taxtmi.com/caselaws?id=9194 The High Court of Kerala ruled in favor of the assessee in a case involving the interpretation of provisions under sections 80M and 235 of the Income-tax Act. The court held that relief on dividends paid to shareholders by companies assessed to agricultural income-tax should be calculated based on the entire dividend amount attributable to agricultural profits, regardless of the deduction under section 80M. The court emphasized that the legislative intent behind section 235 remained unchanged despite amendments, and directed the revenue authorities to grant relief accordingly. The court's decision favored the assessee, affirming their entitlement to relief on the full dividend amount under section 235. en-us Wed, 06 Jun 1973 00:00:00 +0530 Sat, 20 Jun 2009 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9194 The High Court of Kerala ruled in favor of the assessee in a case involving the interpretation of provisions under sections 80M and 235 of the Income-tax Act. The court held that relief on dividends paid to shareholders by companies assessed to agricultural income-tax should be calculated based on the entire dividend amount attributable to agricultural profits, regardless of the deduction under section 80M. The court emphasized that the legislative intent behind section 235 remained unchanged despite amendments, and directed the revenue authorities to grant relief accordingly. The court's decision favored the assessee, affirming their entitlement to relief on the full dividend amount under section 235. Case-Laws Income Tax Wed, 06 Jun 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9194