1996 (1) TMI 43 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, allowing deduction under section 80P(2)(a)(i) for interest on securities and under section 80P(2)(c) for dividend income. The Tribunal's decision was supported by the provisions of the Income-tax Act, 1961. The judgment was delivered by Judge Thanikkachalam.