https://www.taxtmi.com/caselaws?id=38067 Sections 80K and 80L were treated as allowing a straight deduction from dividend income without first reducing section 57(iii) expenses or other attributable outgoings. The Court distinguished section 85A because its wording and tax-rate mechanism were materially different, and held that section 80A(1) did not require prior adjustment for section 57(iii) deductions. It also noted that section 80B(5) excluded Chapter VI-A deductions and section 280(6) without referring to section 57(iii). Earlier decisions rejecting proportionate interest or management expense deductions before granting the benefit were followed, so the deduction was allowed in favour of the assessee. en-us Mon, 17 Nov 1975 00:00:00 +0530 Sat, 03 Apr 2010 10:13:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38067 Sections 80K and 80L were treated as allowing a straight deduction from dividend income without first reducing section 57(iii) expenses or other attributable outgoings. The Court distinguished section 85A because its wording and tax-rate mechanism were materially different, and held that section 80A(1) did not require prior adjustment for section 57(iii) deductions. It also noted that section 80B(5) excluded Chapter VI-A deductions and section 280(6) without referring to section 57(iii). Earlier decisions rejecting proportionate interest or management expense deductions before granting the benefit were followed, so the deduction was allowed in favour of the assessee. Case-Laws Income Tax Mon, 17 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38067