https://www.taxtmi.com/caselaws?id=338635 The ITAT allowed the Revenue's appeals for statistical purposes in the assessment years 2009-10 and 2012-13, directing the Assessing Officer to re-examine the issue of expenses claimed by the cricketer. The ITAT emphasized the necessity of establishing a direct nexus between the expenses and the income earned from playing cricket to determine the allowability of business expenditures under the Income Tax Act. The case required re-adjudication to clarify the connection between the expenses incurred and the taxable income, highlighting the importance of meeting the criteria of being wholly and exclusively incurred for the purpose of the business. en-us Tue, 31 Jan 2017 00:00:00 +0530 Wed, 08 Feb 2017 12:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338635 The ITAT allowed the Revenue's appeals for statistical purposes in the assessment years 2009-10 and 2012-13, directing the Assessing Officer to re-examine the issue of expenses claimed by the cricketer. The ITAT emphasized the necessity of establishing a direct nexus between the expenses and the income earned from playing cricket to determine the allowability of business expenditures under the Income Tax Act. The case required re-adjudication to clarify the connection between the expenses incurred and the taxable income, highlighting the importance of meeting the criteria of being wholly and exclusively incurred for the purpose of the business. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338635