https://www.taxtmi.com/caselaws?id=36824 The High Court upheld the Tribunal's decision, ruling in favor of the assessee, allowing relief under section 80K on the gross amount of dividend received from J. K. Synthetics Ltd. The Court held that deduction for interest paid on loans for share purchase should not be considered while calculating relief under section 80K, emphasizing that the entire dividend income is deductible if attributable to the profits and gains of a company entitled to relief under section 80J. The Court's decision aligned with statutory provisions and previous court rulings, rejecting the department's argument for further deductions. en-us Tue, 13 Nov 1979 00:00:00 +0530 Wed, 24 Mar 2010 17:46:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36824 The High Court upheld the Tribunal's decision, ruling in favor of the assessee, allowing relief under section 80K on the gross amount of dividend received from J. K. Synthetics Ltd. The Court held that deduction for interest paid on loans for share purchase should not be considered while calculating relief under section 80K, emphasizing that the entire dividend income is deductible if attributable to the profits and gains of a company entitled to relief under section 80J. The Court's decision aligned with statutory provisions and previous court rulings, rejecting the department's argument for further deductions. Case-Laws Income Tax Tue, 13 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36824