Case Law Details
Case Name : PCIT Vs SIL Investments Ltd. (Delhi High Court)
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All High Courts Delhi High Court
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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 n
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Author Bio
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.