https://www.taxtmi.com/caselaws?id=22684 The court held that the expenses, including the managing director's salary, could not be deducted under "Profits and gains of business or profession" as the assessee was not conducting any business. The deductions were allowed under "Income from other sources" as per Section 57 of the Income-tax Act, 1961. The court upheld the Income-tax Officer's decision to disallow 90% of total expenses for the assessment year 1978-79 and allow only 10% of income as admissible expenses for 1979-80, finding the allowances reasonable and justified. The judgment favored the Revenue in both issues. en-us Fri, 01 Feb 1991 00:00:00 +0530 Sat, 12 Dec 2009 12:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22684 The court held that the expenses, including the managing director's salary, could not be deducted under "Profits and gains of business or profession" as the assessee was not conducting any business. The deductions were allowed under "Income from other sources" as per Section 57 of the Income-tax Act, 1961. The court upheld the Income-tax Officer's decision to disallow 90% of total expenses for the assessment year 1978-79 and allow only 10% of income as admissible expenses for 1979-80, finding the allowances reasonable and justified. The judgment favored the Revenue in both issues. Case-Laws Income Tax Fri, 01 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22684