https://www.taxtmi.com/caselaws?id=26422 The court held that legal expenses of Rs. 11,500 incurred by a public limited company in a dispute with its subsidiary were not allowable as a deduction against dividend income under the Income-tax Act, 1961. The expenses were not incurred for the business of the assessee or for earning dividends, as required by section 37(1) of the Act. The court ruled in favor of the Revenue, directing each party to bear their own costs. en-us Fri, 18 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 18:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26422 The court held that legal expenses of Rs. 11,500 incurred by a public limited company in a dispute with its subsidiary were not allowable as a deduction against dividend income under the Income-tax Act, 1961. The expenses were not incurred for the business of the assessee or for earning dividends, as required by section 37(1) of the Act. The court ruled in favor of the Revenue, directing each party to bear their own costs. Case-Laws Income Tax Fri, 18 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26422