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2009 (8) TMI 7 - PUNJAB AND HARYANA HIGH COURTDeduction under Section 80-M - gross dividends and without deducting the amount of interest and other expenses - The assessee claimed deduction under section 80-M of the Act on the gross dividend but the Assessing Officer did not accept the claim. It was held that the amount of interest paid by the assessee was required to be reduced from the gross dividend income while working out relief under section 80-M of the Act. This view was affirmed by CIT(A) but the Tribunal reversed the said view – held that – ITAT order is not cored and reversed.
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