https://www.taxtmi.com/caselaws?id=55657 The Tribunal partially allowed the appeal, directing the Income Tax Officer to grant the deduction under section 80M on the gross dividend income of the trading company engaged in shares and securities activities. The decision was based on the interpretation of relevant judgments, specifically relying on the Gujarat High Court's stance that interest expenses for business purposes should not diminish dividend income for calculating the deduction under section 80M. The Tribunal distinguished the case from mere investment scenarios and emphasized the unique nature of the appellant company's business activities. en-us Sun, 28 Jul 1991 00:00:00 +0530 Mon, 29 Nov 2010 12:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55657 The Tribunal partially allowed the appeal, directing the Income Tax Officer to grant the deduction under section 80M on the gross dividend income of the trading company engaged in shares and securities activities. The decision was based on the interpretation of relevant judgments, specifically relying on the Gujarat High Court's stance that interest expenses for business purposes should not diminish dividend income for calculating the deduction under section 80M. The Tribunal distinguished the case from mere investment scenarios and emphasized the unique nature of the appellant company's business activities. Case-Laws Income Tax Sun, 28 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55657