https://www.taxtmi.com/caselaws?id=252787 The Bombay High Court ruled in a case concerning the interpretation of section 80M of the Income Tax Act that only expenses directly incurred for earning dividend income should be considered for deduction. The Court emphasized that expenses on a notional basis cannot be deducted, and the deduction should be based on actual expenses. The Court held in favor of the Assessee, rejecting the Revenue's claim to reduce the deduction, and disposed of the reference accordingly. en-us Wed, 24 Sep 2014 00:00:00 +0530 Tue, 04 Nov 2014 06:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252787 The Bombay High Court ruled in a case concerning the interpretation of section 80M of the Income Tax Act that only expenses directly incurred for earning dividend income should be considered for deduction. The Court emphasized that expenses on a notional basis cannot be deducted, and the deduction should be based on actual expenses. The Court held in favor of the Assessee, rejecting the Revenue's claim to reduce the deduction, and disposed of the reference accordingly. Case-Laws Income Tax Wed, 24 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252787