https://www.taxtmi.com/caselaws?id=19225 The court ruled in favor of the assessee, holding that the Income-tax Officer exceeded jurisdiction by estimating expenses for dividend income in rectification proceedings under section 154. The court emphasized that the dispute over expenditure allocation was not suitable for rectification and affirmed that the Income-tax Officer's actions were erroneous. The relief under section 80M should be granted on net dividend after deducting related expenses, which the Income-tax Officer failed to do initially. The court upheld the Tribunal's decision, answering in favor of the assessee without ordering costs. en-us Wed, 29 Jan 1992 00:00:00 +0530 Wed, 04 Nov 2009 17:00:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19225 The court ruled in favor of the assessee, holding that the Income-tax Officer exceeded jurisdiction by estimating expenses for dividend income in rectification proceedings under section 154. The court emphasized that the dispute over expenditure allocation was not suitable for rectification and affirmed that the Income-tax Officer's actions were erroneous. The relief under section 80M should be granted on net dividend after deducting related expenses, which the Income-tax Officer failed to do initially. The court upheld the Tribunal's decision, answering in favor of the assessee without ordering costs. Case-Laws Income Tax Wed, 29 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19225