https://www.taxtmi.com/caselaws?id=12901 Section 40A(5) applies in computing business income and overrides contrary provisions, so employee-related expenditure falling within its ambit cannot be reduced by reference to a deduction allowed under section 20(1)(i) for income from interest on securities. The deduction under section 20(1)(i) is confined to that head of income and does not control the ceiling or exclusion exercise under section 40A(5). Accordingly, proportionate expenses deductible under section 20(1)(i) could not be excluded from the employee-expenditure computation, and the issue was answered in the negative in favour of the Revenue. en-us Fri, 13 Jul 2001 00:00:00 +0530 Fri, 22 May 2009 18:16:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12901 Section 40A(5) applies in computing business income and overrides contrary provisions, so employee-related expenditure falling within its ambit cannot be reduced by reference to a deduction allowed under section 20(1)(i) for income from interest on securities. The deduction under section 20(1)(i) is confined to that head of income and does not control the ceiling or exclusion exercise under section 40A(5). Accordingly, proportionate expenses deductible under section 20(1)(i) could not be excluded from the employee-expenditure computation, and the issue was answered in the negative in favour of the Revenue. Case-Laws Income Tax Fri, 13 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12901