https://www.taxtmi.com/caselaws?id=25005 Deduction under section 80M of the Income-tax Act, 1961 had to be computed on the net dividend as computed under the Act, not on the gross dividend received from domestic companies. Section 80AA, inserted retrospectively from 1 April 1968 by the Finance (No. 2) Act, 1980, clarified that the deduction under section 80M was linked to dividend income as computed in accordance with the Act. Section 44 of the Finance (No. 2) Act, 1980 was held inapplicable on the facts. The question was answered in the negative in favour of the Revenue. en-us Mon, 25 Jan 1988 00:00:00 +0530 Sat, 23 Jan 2010 17:22:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25005 Deduction under section 80M of the Income-tax Act, 1961 had to be computed on the net dividend as computed under the Act, not on the gross dividend received from domestic companies. Section 80AA, inserted retrospectively from 1 April 1968 by the Finance (No. 2) Act, 1980, clarified that the deduction under section 80M was linked to dividend income as computed in accordance with the Act. Section 44 of the Finance (No. 2) Act, 1980 was held inapplicable on the facts. The question was answered in the negative in favour of the Revenue. Case-Laws Income Tax Mon, 25 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25005