Court dismisses appeal due to lack of evidence on expenses for exempted income. Tribunal sets expenditure at 1%.

The High Court of Calcutta dismissed the appeal as the assessee failed to demonstrate any expenditure incurred for earning exempted income. The Tribunal determined the expenditure at 1% of the dividend income.

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The High Court of Calcutta dismissed the appeal as the assessee did not show any expenditure incurred for earning exempted income, with the Tribunal computing expenditure at 1% of the dividend income.

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