https://www.taxtmi.com/caselaws?id=181897 The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. The AO was directed to re-compute disallowances and rebates based on clarified methodologies and verifications. The Tribunal ruled that no disallowance is warranted when no actual expenditure is incurred for earning dividend income. Additionally, the Tribunal directed the AO to consider whether the gross income shown was before or after deduction of STT for determining rebate u/s 88E and gross income from SIT transactions. The deduction of direct expenses for dealing in shares and securities was allowed for both STT income and total income calculations. en-us Wed, 26 Sep 2012 00:00:00 +0530 Wed, 27 Apr 2016 10:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181897 The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. The AO was directed to re-compute disallowances and rebates based on clarified methodologies and verifications. The Tribunal ruled that no disallowance is warranted when no actual expenditure is incurred for earning dividend income. Additionally, the Tribunal directed the AO to consider whether the gross income shown was before or after deduction of STT for determining rebate u/s 88E and gross income from SIT transactions. The deduction of direct expenses for dealing in shares and securities was allowed for both STT income and total income calculations. Case-Laws Income Tax Wed, 26 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181897