https://www.taxtmi.com/caselaws?id=20742 The High Court ruled in favor of the assessee, concluding that the Income-tax Officer's method of computation for deduction under section 80K was incorrect. The Court emphasized that expenses incurred for speculation and ready business could not be deducted from dividend income. It was held that the assessee was entitled to the deduction under section 80K from the gross dividend income without deducting the pro rata expenditure on brokerage, share transfer fees, and interest. The Court reframed the issue and ruled in favor of the assessee, with no costs awarded to either party. en-us Wed, 10 Mar 1993 00:00:00 +0530 Tue, 17 Nov 2009 10:12:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20742 The High Court ruled in favor of the assessee, concluding that the Income-tax Officer's method of computation for deduction under section 80K was incorrect. The Court emphasized that expenses incurred for speculation and ready business could not be deducted from dividend income. It was held that the assessee was entitled to the deduction under section 80K from the gross dividend income without deducting the pro rata expenditure on brokerage, share transfer fees, and interest. The Court reframed the issue and ruled in favor of the assessee, with no costs awarded to either party. Case-Laws Income Tax Wed, 10 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20742