https://www.taxtmi.com/caselaws?id=22814 For computing chargeable profits under clause (viii) of rule 1 of the First Schedule to the Companies (Profits) Surtax Act, the deductible amount in respect of dividend income is the net dividend after giving effect to deductions under sections 80L and 80M of the Income-tax Act, not the gross dividend. The High Court applied the settled Supreme Court position and held that the Tribunal was wrong to allow deduction of the entire gross dividend. The Revenue's view was accepted and the referred question was answered in the negative. en-us Thu, 13 Dec 1990 00:00:00 +0530 Mon, 14 Dec 2009 12:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22814 For computing chargeable profits under clause (viii) of rule 1 of the First Schedule to the Companies (Profits) Surtax Act, the deductible amount in respect of dividend income is the net dividend after giving effect to deductions under sections 80L and 80M of the Income-tax Act, not the gross dividend. The High Court applied the settled Supreme Court position and held that the Tribunal was wrong to allow deduction of the entire gross dividend. The Revenue's view was accepted and the referred question was answered in the negative. Case-Laws Income Tax Thu, 13 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22814