https://www.taxtmi.com/caselaws?id=32378 The Court held that the appellant, a scheduled bank, was entitled to a deduction of 4/5th of the dividend income from the Unit Trust of India for the assessment year 1994-95. The interpretation of 'such income' in the proviso to Section 80M favored the appellant's position, allowing them to claim the deduction on the total dividend income rather than a limited portion. The Court reversed the Tribunal's decision and upheld the appellant's entitlement to the deduction, in line with the First Appellate Authority's order. en-us Tue, 17 Jun 2008 00:00:00 +0530 Wed, 11 Feb 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32378 The Court held that the appellant, a scheduled bank, was entitled to a deduction of 4/5th of the dividend income from the Unit Trust of India for the assessment year 1994-95. The interpretation of 'such income' in the proviso to Section 80M favored the appellant's position, allowing them to claim the deduction on the total dividend income rather than a limited portion. The Court reversed the Tribunal's decision and upheld the appellant's entitlement to the deduction, in line with the First Appellate Authority's order. Case-Laws Income Tax Tue, 17 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32378