Meaning of tax terms

Meaning of “Income so included”

Posted on by Prashant Thakur

Case Name : Cloth Traders (P.) Ltd. Vs. Addl.Cit/Cit Vs. H.K. Investment Co. (P.) Ltd./ H.K. Investment (P.) Ltd. V. Cit/C.V. Mehta (P.) Ltd. V. Cit/Distributors (Baroda) (P.) Ltd. Vs. Cit

Citation :[1979] 118 ITR 243 (SC)

Court : Supreme Court

Section : 80M

Meaning : The words ‘income so included’ under section 80m do not refer to the quantum of the income included but only to the category of income included, viz., ‘Income by way of dividends from an indian company’.

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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