https://www.taxtmi.com/caselaws?id=65434 Dividend income for section 80M deduction must be reduced only by expenditure actually attributable to earning that dividend; where the nexus of interest and bank charges with share acquisition is not fully established, a limited factual verification may be required. The discussion also explains that Explanation to section 73 does not automatically treat every share-sale loss as speculative loss: the deeming fiction applies only where share transactions form part of the company's business activity in the relevant sense. On the facts described, the shares were treated as investment and the resulting loss was characterised as short-term capital loss, not speculation loss. en-us Fri, 12 May 2006 00:00:00 +0530 Thu, 07 Mar 2024 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65434 Dividend income for section 80M deduction must be reduced only by expenditure actually attributable to earning that dividend; where the nexus of interest and bank charges with share acquisition is not fully established, a limited factual verification may be required. The discussion also explains that Explanation to section 73 does not automatically treat every share-sale loss as speculative loss: the deeming fiction applies only where share transactions form part of the company's business activity in the relevant sense. On the facts described, the shares were treated as investment and the resulting loss was characterised as short-term capital loss, not speculation loss. Case-Laws Income Tax Fri, 12 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65434