This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Disallowance u/s 80M to the extent of dividend distributed to shareholders unsustainable
Case Law Details
- Case Name
- PCIT Vs SIL Investments Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
PCIT Vs SIL Investments Ltd. (Delhi High Court)
Delhi High Court held that disallowance under section 80M of the Income Tax Act to the extent of divided distributed to the shareholders unsustainable in law. Accordingly, disallowance rightly deleted by CIT(A).
Facts- The assessed income factored in included two disallowances: i) disallowance of deduction claimed by the respondent/assessee under Section 80IA/80IB, amounting to Rs. 4,32,65,725/- on the ground that profits of two (2) eligible units were not adjusted against unabsorbed losses of the other (3) eligible units and bro...
Author Info
80M is certainly right. When it was introduced I remember our we invested cadhflow surplus is US64 where Dividend was assured everyyear. We planned that by interim Dividend this is distributed and a final before filing return. How can the company sleep on this subject.