2009 (2) TMI 94

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....me of admission on 12.07.2000 the following substantial question of law was formulated by the High Court: "Whether, the Appellate Tribunal is right in law and on facts in directing the Assessing Officer to allow deduction under section 80M on the gross amount of dividend without deducting the proportionate deduction admissible under section 36(i) (viii) of the Income Tax Act?" 2. The Assessm....

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....n case relating to Assessment Year 1988-89. 5. At the time of hearing learned advocate for the respondent-assessee placed on record a copy of the said order dated 03.08.1998 of the Tribunal as well as order dated 19.04.1999 whereby reference, at the behest of the revenue under Section 256(1) of the Act, came to be rejected. 6. As can be seen from the facts found concurrently, both by Commiss....