https://www.taxtmi.com/caselaws?id=37396 The court ruled in favor of the assessee, holding that relief under section 80K of the Income-tax Act should be based on the gross dividend income, not the net income after deducting expenses. The court emphasized that sections 57 and 80K operate in different spheres, with section 80K specifically targeting dividend income from certain sources. The legislative intent behind Chapter VI-A, including section 80K, was to incentivize new industrial undertakings. The court's decision favored the assessee, granting relief under section 80K on the gross dividend income for the assessment years in question. en-us Tue, 20 Sep 1977 00:00:00 +0530 Mon, 29 Mar 2010 13:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37396 The court ruled in favor of the assessee, holding that relief under section 80K of the Income-tax Act should be based on the gross dividend income, not the net income after deducting expenses. The court emphasized that sections 57 and 80K operate in different spheres, with section 80K specifically targeting dividend income from certain sources. The legislative intent behind Chapter VI-A, including section 80K, was to incentivize new industrial undertakings. The court's decision favored the assessee, granting relief under section 80K on the gross dividend income for the assessment years in question. Case-Laws Income Tax Tue, 20 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37396