https://www.taxtmi.com/caselaws?id=28256 The High Court upheld the Tribunal's decision, affirming that the assessee was entitled to the deduction under section 80L of the Income-tax Act, 1961 for the assessment year 1972-73, despite the net income being a negative figure. The Court clarified that the deduction should be based on the full amount of dividends received from Indian companies, regardless of how the income is computed under the Act. The decision favored the assessee, rejecting the Revenue's argument against the deduction. en-us Mon, 26 Jul 1982 00:00:00 +0530 Sat, 20 Feb 2010 10:37:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28256 The High Court upheld the Tribunal's decision, affirming that the assessee was entitled to the deduction under section 80L of the Income-tax Act, 1961 for the assessment year 1972-73, despite the net income being a negative figure. The Court clarified that the deduction should be based on the full amount of dividends received from Indian companies, regardless of how the income is computed under the Act. The decision favored the assessee, rejecting the Revenue's argument against the deduction. Case-Laws Income Tax Mon, 26 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28256