https://www.taxtmi.com/caselaws?id=21269 The High Court held that trustees of a pension fund receiving dividend income from a company, where the company was the sole beneficiary, were entitled to a deduction under section 80M of the Income-tax Act, 1961. The court ruled that trustees should be treated similarly to beneficiaries for tax purposes under section 161 of the Act, rejecting the Revenue's argument that the same company receiving dividends cannot avail of the deduction. The court affirmed the Tribunal's decision to allow the deduction under section 80M and awarded costs to the assessee. en-us Mon, 10 Jun 1991 00:00:00 +0530 Sat, 21 Nov 2009 11:48:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21269 The High Court held that trustees of a pension fund receiving dividend income from a company, where the company was the sole beneficiary, were entitled to a deduction under section 80M of the Income-tax Act, 1961. The court ruled that trustees should be treated similarly to beneficiaries for tax purposes under section 161 of the Act, rejecting the Revenue's argument that the same company receiving dividends cannot avail of the deduction. The court affirmed the Tribunal's decision to allow the deduction under section 80M and awarded costs to the assessee. Case-Laws Income Tax Mon, 10 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21269