https://www.taxtmi.com/caselaws?id=20982 HC held that dividend income, though assessable under the head "Other sources" u/s 56, retained its character as business-related income where attributable to the assessee's business activity. Consequently, expenditure incurred wholly and exclusively for business, including for earning such dividend from shares, remained allowable as business expenditure and could not be artificially apportioned to reduce the gross dividend for purposes of relief u/s 80M. The Court rejected any deduction of management expenses or interest from the dividend amount for computing the special deduction. Other issues, including change in method of stock valuation and exclusion of reimbursed medical expenses from perquisite valuation u/ss 40(c)(iii)/40(a)(v), were also decided in favour of the assessee. en-us Fri, 31 May 1991 00:00:00 +0530 Mon, 08 Dec 2025 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20982 HC held that dividend income, though assessable under the head "Other sources" u/s 56, retained its character as business-related income where attributable to the assessee's business activity. Consequently, expenditure incurred wholly and exclusively for business, including for earning such dividend from shares, remained allowable as business expenditure and could not be artificially apportioned to reduce the gross dividend for purposes of relief u/s 80M. The Court rejected any deduction of management expenses or interest from the dividend amount for computing the special deduction. Other issues, including change in method of stock valuation and exclusion of reimbursed medical expenses from perquisite valuation u/ss 40(c)(iii)/40(a)(v), were also decided in favour of the assessee. Case-Laws Income Tax Fri, 31 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20982