{"id":67266,"date":"1995-09-14T00:00:00","date_gmt":"1995-09-13T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/lucas-tvs-limited-vs-commissioner-of-income-tax-on-14-september-1995"},"modified":"2018-04-12T06:02:59","modified_gmt":"2018-04-12T00:32:59","slug":"lucas-tvs-limited-vs-commissioner-of-income-tax-on-14-september-1995","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/lucas-tvs-limited-vs-commissioner-of-income-tax-on-14-september-1995","title":{"rendered":"Lucas Tvs Limited vs Commissioner Of Income-Tax on 14 September, 1995"},"content":{"rendered":"<div class=\"docsource_main\">Madras High Court<\/div>\n<div class=\"doc_title\">Lucas Tvs Limited vs Commissioner Of Income-Tax on 14 September, 1995<\/div>\n<div class=\"doc_citations\">Equivalent citations: 1996 220 ITR 557 Mad<\/div>\n<div class=\"doc_author\">Author: A Hadi<\/div>\n<div class=\"doc_bench\">Bench: A Hadi, Venkatachaliah<\/div>\n<\/p>\n<pre><\/pre>\n<p>JUDGMENT<\/p>\n<p> Abdul Hadi, J. <\/p>\n<p> 1. Heard. Both the counsel agreed that in this tax case filed under section 256 of the Income-tax Act, 1961, the question referred to us :\n<\/p>\n<p>  &#8220;Whether, on the facts and circumstances of the case and on a correct interpretation of rule 1(viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964, in computing the chargeable profits under the said Act and the Rules made thereunder, the assessee-company deriving income by way of dividends from another Indian company is entitled to the exclusion of only the net dividend amount received after reducing from the gross dividend relief granted under section 80M of the Income-tax Act, 1961 ? &#8221; should be answered in the affirmative, and that this case is covered against the assessee-petitioner by the judgment of this court dated June 19, 1986, made in T.C. Nos. 136 and 137 of 1979 (CIT v. Virudhunagar Textiles Mills Ltd.) Accordingly, the question referred is answered in the affirmative and against the assessee. No costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madras High Court Lucas Tvs Limited vs Commissioner Of Income-Tax on 14 September, 1995 Equivalent citations: 1996 220 ITR 557 Mad Author: A Hadi Bench: A Hadi, Venkatachaliah JUDGMENT Abdul Hadi, J. 1. Heard. Both the counsel agreed that in this tax case filed under section 256 of the Income-tax Act, 1961, the question referred [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-67266","post","type-post","status-publish","format-standard","hentry","category-high-court","category-madras-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lucas Tvs Limited vs Commissioner Of Income-Tax on 14 September, 1995 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/lucas-tvs-limited-vs-commissioner-of-income-tax-on-14-september-1995\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lucas Tvs Limited vs Commissioner Of Income-Tax on 14 September, 1995 - Free Judgements of Supreme Court &amp; 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