https://www.taxtmi.com/caselaws?id=27459 The court ruled in favor of the assessee on the calculation of rebate under section 85A, allowing the rebate to be applied to the full amount of dividend received without deductions for expenditure. The court upheld the direction of the Appellate Assistant Commissioner regarding the admissibility of the rebate for the relevant assessment years. Additionally, the court ruled in favor of the Department on the deduction under section 80M, based on the income by way of dividends. The determination of market value of shares for capital gains was also decided in favor of the assessee, following the guidance on fair market value without factoring subsequent bonus or right shares. The court declined to address the validity of proceedings under section 147(b) due to the prior rulings on rebate calculations. en-us Thu, 22 Sep 1983 00:00:00 +0530 Sat, 13 Feb 2010 10:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27459 The court ruled in favor of the assessee on the calculation of rebate under section 85A, allowing the rebate to be applied to the full amount of dividend received without deductions for expenditure. The court upheld the direction of the Appellate Assistant Commissioner regarding the admissibility of the rebate for the relevant assessment years. Additionally, the court ruled in favor of the Department on the deduction under section 80M, based on the income by way of dividends. The determination of market value of shares for capital gains was also decided in favor of the assessee, following the guidance on fair market value without factoring subsequent bonus or right shares. The court declined to address the validity of proceedings under section 147(b) due to the prior rulings on rebate calculations. Case-Laws Income Tax Thu, 22 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27459