https://www.taxtmi.com/caselaws?id=180423 The Income Tax Appellate Tribunal rejected the revenue's appeal, emphasizing the lack of a cogent reason for disallowing expenditure and stating that estimate-based disallowance was unjustified. The Tribunal found no justification for the proportionate disallowance of expenditure in light of the assessee's various activities and the nature of dividend income. Both the Commissioner of Income Tax (Appeals) and the Tribunal made decisions based on factual considerations, leading to the dismissal of the revenue's appeal by the Court due to the absence of any substantial question of law. en-us Tue, 15 Jul 2008 00:00:00 +0530 Wed, 23 Mar 2016 14:12:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180423 The Income Tax Appellate Tribunal rejected the revenue's appeal, emphasizing the lack of a cogent reason for disallowing expenditure and stating that estimate-based disallowance was unjustified. The Tribunal found no justification for the proportionate disallowance of expenditure in light of the assessee's various activities and the nature of dividend income. Both the Commissioner of Income Tax (Appeals) and the Tribunal made decisions based on factual considerations, leading to the dismissal of the revenue's appeal by the Court due to the absence of any substantial question of law. Case-Laws Income Tax Tue, 15 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180423