https://www.taxtmi.com/caselaws?id=17544 The court upheld the disallowance of the deduction on account of dividend on preference shares and the tax payable in Malaysia for the assessment year 1982-83. The decision was based on the provisions of the Income-tax Act, 1961, specifically sections 40(a)(ii) and 5, which restrict the deduction of certain expenses and taxes for computing taxable income. The court concluded that the assessee was not entitled to claim these deductions, resulting in the dismissal of the company's claims in this regard. en-us Tue, 08 Jul 1997 00:00:00 +0530 Wed, 23 Sep 2009 12:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17544 The court upheld the disallowance of the deduction on account of dividend on preference shares and the tax payable in Malaysia for the assessment year 1982-83. The decision was based on the provisions of the Income-tax Act, 1961, specifically sections 40(a)(ii) and 5, which restrict the deduction of certain expenses and taxes for computing taxable income. The court concluded that the assessee was not entitled to claim these deductions, resulting in the dismissal of the company's claims in this regard. Case-Laws Income Tax Tue, 08 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17544