https://www.taxtmi.com/caselaws?id=59883 The Appellate Tribunal ruled in favor of the assessee in a case concerning the allocation of expenses related to dividend income for deduction under section 80M. The Tribunal held that as the dividend income was considered business income, expenses should not be deducted from the dividend income for the purpose of section 80M. Consequently, the Income-tax Officer was directed to grant relief under section 80M on the gross dividend amounts for the relevant assessment years, resulting in a successful outcome for the assessee's appeals. en-us Tue, 03 Aug 1993 00:00:00 +0530 Sat, 01 Jan 2011 16:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59883 The Appellate Tribunal ruled in favor of the assessee in a case concerning the allocation of expenses related to dividend income for deduction under section 80M. The Tribunal held that as the dividend income was considered business income, expenses should not be deducted from the dividend income for the purpose of section 80M. Consequently, the Income-tax Officer was directed to grant relief under section 80M on the gross dividend amounts for the relevant assessment years, resulting in a successful outcome for the assessee's appeals. Case-Laws Income Tax Tue, 03 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59883