https://www.taxtmi.com/caselaws?id=26781 The court held that the assessee company, engaged in general insurance business and assessed under section 44 of the Income-tax Act, is entitled to relief under section 80M on the entire dividend income. The court emphasized that despite the special provisions for insurance companies, dividend income retains its character and qualifies for relief under section 80M. However, the relief under section 80M should be computed on the net dividend after deducting proportionate management expenses, as mandated by section 80AA. The judgment favored the assessee on the first issue and the Revenue on the second issue. en-us Thu, 02 May 1985 00:00:00 +0530 Mon, 08 Feb 2010 13:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26781 The court held that the assessee company, engaged in general insurance business and assessed under section 44 of the Income-tax Act, is entitled to relief under section 80M on the entire dividend income. The court emphasized that despite the special provisions for insurance companies, dividend income retains its character and qualifies for relief under section 80M. However, the relief under section 80M should be computed on the net dividend after deducting proportionate management expenses, as mandated by section 80AA. The judgment favored the assessee on the first issue and the Revenue on the second issue. Case-Laws Income Tax Thu, 02 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26781