https://www.taxtmi.com/caselaws?id=59135 The Appellate Tribunal ITAT BOMBAY-E allowed the appeal, directing the ITO to grant the deduction under section 80M of the Income Tax Act as claimed by the assessee. The Tribunal held that reducing the assessee's share of dividend income by proportionate registered firm tax was not justified for the deduction under section 80M. The decision was based on a strict interpretation of the relevant provisions, emphasizing that the purpose of apportioning profit under various heads was not to reduce dividend income. en-us Thu, 04 Jan 1990 00:00:00 +0530 Sat, 25 Dec 2010 12:10:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59135 The Appellate Tribunal ITAT BOMBAY-E allowed the appeal, directing the ITO to grant the deduction under section 80M of the Income Tax Act as claimed by the assessee. The Tribunal held that reducing the assessee's share of dividend income by proportionate registered firm tax was not justified for the deduction under section 80M. The decision was based on a strict interpretation of the relevant provisions, emphasizing that the purpose of apportioning profit under various heads was not to reduce dividend income. Case-Laws Income Tax Thu, 04 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59135