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2013 (9) TMI 753 - HC - Income TaxWhether Adjustment made in the returned income on account of the claim under Section 80M was beyond the scope of the provisions of Section 143(1)(a) – Held that:- In order to claim deduction under Section 80M of the Act, the assessee should be a domestic company, which in the previous year should have earned any income by way of dividends from another domestic company, and which should not exceed the amount of dividend distributed by the first mentioned domestic company on or before the due date. In the present case, the assessee company did not get dividend from another domestic company. It got its share of profit from a firm in which it was partner. The firm was not a domestic company as defined in the Act. The assessee company therefore was not entitled to any deduction under Section 80M of the Act. This was permissible adjustment under Section 143 (1) (a) of the Act – Decided in favor of Revenue.
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