TMI Blog1975 (11) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... n favour of the department by the judgment of the Gujarat High Court in Addl. CIT v. Cloth Traders (P.) Ltd. [1974]97 ITR 140. It is, however, to be appreciated that the Division Bench of the Gujarat High Court in that decision was dealing with s. 85A (as it then stood) of the I.T. Act, 1961, the language of which materially differs from the two sections which we are considering, viz., ss. 80K and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al income of the assessee from which the assessee would be entitled to have further deductions under these two sections, viz., ss. 80K and 80L. It is important, however, in this connection to note that both in s. 80A(1) as well as in s. 80B(5), the deduction contemplated under s. 57(iii) has not been mentioned. The former provision refers only to deductions specified in ss. 80C to 80U, whereas s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be deducted from the dividend income before granting to the assessee the deduction claimed in respect thereof. The department's contentions in both the cases were rejected by the High Court concerned. Lastly, it may be mentioned that the submission as was formulated in this court by Mr. Joshi is not reflected in the question which is sought to be referred to us. In the result, the rule will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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