https://www.taxtmi.com/caselaws?id=393811 The Tribunal allowed the appeal of the assessee, emphasizing the necessity of establishing a nexus between the expenditure incurred and the purpose of earning income as per section 57(iii) of the Income Tax Act. The judgment highlighted the legal interpretation of the provision and relied on precedents to support the deduction of such expenditure, even when income was not realized. The Tribunal concluded that the disallowance of the expenditure was unfounded, leading to the deletion of the addition made by the Assessing Officer and upheld by the Ld. CIT(A). en-us Thu, 19 Mar 2020 00:00:00 +0530 Mon, 23 Mar 2020 12:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393811 The Tribunal allowed the appeal of the assessee, emphasizing the necessity of establishing a nexus between the expenditure incurred and the purpose of earning income as per section 57(iii) of the Income Tax Act. The judgment highlighted the legal interpretation of the provision and relied on precedents to support the deduction of such expenditure, even when income was not realized. The Tribunal concluded that the disallowance of the expenditure was unfounded, leading to the deletion of the addition made by the Assessing Officer and upheld by the Ld. CIT(A). Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393811