https://www.taxtmi.com/caselaws?id=24631 The High Court held that all expenses incurred by the assessee should be allowed as deductions under the head "Profits and gains of business or profession" without any apportionment between business income and dividend income. The Court emphasized that when shares are held as circulating capital, all expenses, including interest, should be considered as business expenses. The judgment favored the assessee, with no costs awarded, aligning with previous decisions on the matter. en-us Mon, 18 Jul 1988 00:00:00 +0530 Thu, 21 Jan 2010 13:24:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24631 The High Court held that all expenses incurred by the assessee should be allowed as deductions under the head "Profits and gains of business or profession" without any apportionment between business income and dividend income. The Court emphasized that when shares are held as circulating capital, all expenses, including interest, should be considered as business expenses. The judgment favored the assessee, with no costs awarded, aligning with previous decisions on the matter. Case-Laws Income Tax Mon, 18 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24631