https://www.taxtmi.com/caselaws?id=55884 Dividend income received by an investment company was required to be assessed under the head "Income from other sources", with deductions confined to those specifically allowable under section 57. Because no qualifying dividend-realisation expenditure was shown, no further deduction under that provision was available. The same dividend income nevertheless qualified for deduction under section 80M, since both payer and recipient were domestic companies and the dividend arrangement satisfied the domestic-payment requirement. The computation rule under section 57 applied for assessment, but the assessee remained entitled to the section 80M deduction on the dividend income. en-us Thu, 02 Jan 1986 00:00:00 +0530 Tue, 30 Nov 2010 15:15:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55884 Dividend income received by an investment company was required to be assessed under the head "Income from other sources", with deductions confined to those specifically allowable under section 57. Because no qualifying dividend-realisation expenditure was shown, no further deduction under that provision was available. The same dividend income nevertheless qualified for deduction under section 80M, since both payer and recipient were domestic companies and the dividend arrangement satisfied the domestic-payment requirement. The computation rule under section 57 applied for assessment, but the assessee remained entitled to the section 80M deduction on the dividend income. Case-Laws Income Tax Thu, 02 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55884