1984 (11) TMI 12 - HC - Income Tax

Summary

The High Court of Calcutta ruled that the assessee is entitled to relief under section 80M of the Income-tax Act, 1961, only in respect of the net amount of dividends from domestic companies, not the gross amount. The decision was based on the provisions of section 80AA of the Income-tax Act, 1961. The judgment favored the Revenue.