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1985 (5) TMI 12 - HC - Income TaxExtract: .......e. In case where deduction is allowable to an assessee under section 80M, the deduction is to be allowed with reference to the amount of dividend computed in accordance with the provisions of the Income-tax Act. For the reasons aforesaid, we answer the second question in the negative and in favour of the Revenue. There will be no order as to costs.
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