Rebate on the dividend recieved from company to company.

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..... under the I.T.Act, dividend income received by a Company from another company is entitled to rebate. The rebate is to be calculated with reference to the net dividend income, after deducting the expenses incurred in earning the dividend income. In the case under report, however, the rebate was calculated with reference to the gross amount of inter-corporate dividend without deducting the expenditu .....

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