https://www.taxtmi.com/caselaws?id=330316 The High Court upheld the Tribunal's decision to allow the total expenditure incurred for earning income, rather than restricting it to a proportion of income. The Court noted the historical acceptance of the claim by the department and emphasized the principle that total expenditure for earning income should be permitted. Consequently, the Court dismissed the appeals, finding no legal flaw in the Tribunal's order regarding the disallowance of interest expenses under section 260A of the Income Tax Act. en-us Mon, 25 Apr 2016 00:00:00 +0530 Fri, 22 Jul 2016 14:07:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330316 The High Court upheld the Tribunal's decision to allow the total expenditure incurred for earning income, rather than restricting it to a proportion of income. The Court noted the historical acceptance of the claim by the department and emphasized the principle that total expenditure for earning income should be permitted. Consequently, the Court dismissed the appeals, finding no legal flaw in the Tribunal's order regarding the disallowance of interest expenses under section 260A of the Income Tax Act. Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330316