Relief to SIL Investments: Delhi HC upholds Deletion of Disallowance u/s 80M of Income Tax Act [Read Order]

Relief to SIL Investments-Delhi HC - Deletion - Disallowance - 80M - Income Tax Act-TAXSCAN

The Delhi High Court upheld the deletion of disallowance under Section 80M of the Income Tax Act, 1961 thereby granting relief to SIL Investments Ltd. The respondent/assessee filed its Return of Income (ROI) for AY 2003-04 on 27.11.2003, whereby, it declared income amounting to Rs. 1,14,29,476/-. However, the respondent/assessee paid tax as per Section 115JB…

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