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1973 (3) TMI 38 - KERALA HIGH COURTWhether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the shareholder is entitled to a deduction from the tax payable by him under section 49B of the Indian Income-tax Act, 1922, as amended by section 14 of the Finance Act, 1959, even on that portion of the dividend attributable to the profits of the companies assessed to agricultural income-tax which has not been subjected to tax under the Indian Income-tax Act in the hands of the shareholder ? - We answer the question referred to us in the affirmative, that is, in favour of the assessee and against the department
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