https://www.taxtmi.com/caselaws?id=10342 The High Court ruled in favor of the assessee, emphasizing that only actual expenditure should be considered for deduction under section 80M of the Income-tax Act, not notional expenditure. The Court held that the taxing authorities had erroneously relied on notional expenditure, contrary to legal principles established by the Supreme Court and the Calcutta High Court. The judgment clarified the correct interpretation of section 80M, highlighting the importance of basing deductions on actual expenses incurred by the assessee. en-us Mon, 11 Oct 2004 00:00:00 +0530 Tue, 14 Jul 2009 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10342 The High Court ruled in favor of the assessee, emphasizing that only actual expenditure should be considered for deduction under section 80M of the Income-tax Act, not notional expenditure. The Court held that the taxing authorities had erroneously relied on notional expenditure, contrary to legal principles established by the Supreme Court and the Calcutta High Court. The judgment clarified the correct interpretation of section 80M, highlighting the importance of basing deductions on actual expenses incurred by the assessee. Case-Laws Income Tax Mon, 11 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10342