https://www.taxtmi.com/caselaws?id=10133 The court upheld the assessee's claim for deduction under section 80M of the Income-tax Act, 1961, regarding dividend income from trusts. It ruled that the share of dividend income from trusts retains its character as dividend income, eligible for deduction. The decision was based on the interpretation of section 67A of the Act, emphasizing consistent treatment of income apportionment. The court dismissed the appeals, affirming the Tribunal's findings and clarifying the application of tax laws in determining the nature of income from trusts for assessment purposes. en-us Thu, 22 Jul 2004 00:00:00 +0530 Wed, 08 Jul 2009 07:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10133 The court upheld the assessee's claim for deduction under section 80M of the Income-tax Act, 1961, regarding dividend income from trusts. It ruled that the share of dividend income from trusts retains its character as dividend income, eligible for deduction. The decision was based on the interpretation of section 67A of the Act, emphasizing consistent treatment of income apportionment. The court dismissed the appeals, affirming the Tribunal's findings and clarifying the application of tax laws in determining the nature of income from trusts for assessment purposes. Case-Laws Income Tax Thu, 22 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10133