https://www.taxtmi.com/caselaws?id=17342 Retrospective amendment to section 80M of the Income-tax Act and the corresponding definition in section 2(9) of the Surtax Act was treated as declaratory of the law already in force, so the computation under the Surtax Act had to exclude only net dividend and not gross dividend. The earlier view allowing deduction of gross dividend was rejected, and later Division Bench decisions adopting the same interpretation were followed. The issue was answered in favour of the Revenue and against the assessee. en-us Thu, 29 Aug 1996 00:00:00 +0530 Mon, 21 Sep 2009 16:45:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17342 Retrospective amendment to section 80M of the Income-tax Act and the corresponding definition in section 2(9) of the Surtax Act was treated as declaratory of the law already in force, so the computation under the Surtax Act had to exclude only net dividend and not gross dividend. The earlier view allowing deduction of gross dividend was rejected, and later Division Bench decisions adopting the same interpretation were followed. The issue was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 29 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17342