https://www.taxtmi.com/caselaws?id=234961 Common administrative and business expenses incurred across speculative and non-speculative trading activities may be apportioned on a fair and reasonable basis where the assessee does not prove a different allocation method. Here, the authorities and Tribunal accepted apportionment by turnover and profit, supported by the nature and volume of the business and the absence of contrary evidence. The court found no perversity in those concurrent factual findings and held that the application of section 73 and its Explanation did not give rise to any substantial question of law. The cited precedent did not assist the assessee, and the appeal was dismissed. en-us Mon, 10 Jun 2013 00:00:00 +0530 Fri, 09 Sep 2022 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234961 Common administrative and business expenses incurred across speculative and non-speculative trading activities may be apportioned on a fair and reasonable basis where the assessee does not prove a different allocation method. Here, the authorities and Tribunal accepted apportionment by turnover and profit, supported by the nature and volume of the business and the absence of contrary evidence. The court found no perversity in those concurrent factual findings and held that the application of section 73 and its Explanation did not give rise to any substantial question of law. The cited precedent did not assist the assessee, and the appeal was dismissed. Case-Laws Income Tax Mon, 10 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234961