https://www.taxtmi.com/caselaws?id=33102 The court ruled in favor of the assessee on the issue of interest determination in suit filed cases, based on a precedent set by the Supreme Court. Regarding deductions under section 36(1)(viii) of the Income-tax Act, 1961, the court allowed the deductions in favor of the assessee based on settled controversies. In the matter of credit for tax deducted at source out of dividend income belonging to the Punjab Government, the court held that both parties should benefit in proportion to their income sharing, ruling in favor of the Revenue for the Punjab Financial Corporation to claim credit accordingly. The same principle applied to income from preference shares. en-us Mon, 02 Feb 2009 00:00:00 +0530 Wed, 22 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33102 The court ruled in favor of the assessee on the issue of interest determination in suit filed cases, based on a precedent set by the Supreme Court. Regarding deductions under section 36(1)(viii) of the Income-tax Act, 1961, the court allowed the deductions in favor of the assessee based on settled controversies. In the matter of credit for tax deducted at source out of dividend income belonging to the Punjab Government, the court held that both parties should benefit in proportion to their income sharing, ruling in favor of the Revenue for the Punjab Financial Corporation to claim credit accordingly. The same principle applied to income from preference shares. Case-Laws Income Tax Mon, 02 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33102