https://www.taxtmi.com/caselaws?id=65935 The Tribunal allowed the appeal, granting relief of Rs. 7,521 to the appellant in a case concerning the disallowance of expenses against share income in individual assessments. The decision clarified that expenses wholly and exclusively incurred for earning the share of profit should be deductible, emphasizing the direct nexus between the expenses and the income earned. The judgment interpreted provisions of the Income-tax Act, 1961, and relied on precedents to support the allowability of such expenses against share income. en-us Thu, 21 Oct 1982 00:00:00 +0530 Sat, 19 Feb 2011 13:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65935 The Tribunal allowed the appeal, granting relief of Rs. 7,521 to the appellant in a case concerning the disallowance of expenses against share income in individual assessments. The decision clarified that expenses wholly and exclusively incurred for earning the share of profit should be deductible, emphasizing the direct nexus between the expenses and the income earned. The judgment interpreted provisions of the Income-tax Act, 1961, and relied on precedents to support the allowability of such expenses against share income. Case-Laws Income Tax Thu, 21 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65935