https://www.taxtmi.com/caselaws?id=438653 The Telangana HC dismissed the revenue's appeal regarding apportionment of common expenditure between agricultural and trading activities. The AO's computation was modified by CIT(A) who apportioned common expenses based on Cost of Goods Sold rather than turnover. The Tribunal upheld this approach, finding it reasonable given the seasonal nature of seed business and short shelf life requiring provisions for unsold stock and sales returns. The HC found no error in the Tribunal's decision and ruled no substantial question of law arose. en-us Mon, 20 Mar 2023 00:00:00 +0530 Mon, 20 Jan 2025 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438653 The Telangana HC dismissed the revenue's appeal regarding apportionment of common expenditure between agricultural and trading activities. The AO's computation was modified by CIT(A) who apportioned common expenses based on Cost of Goods Sold rather than turnover. The Tribunal upheld this approach, finding it reasonable given the seasonal nature of seed business and short shelf life requiring provisions for unsold stock and sales returns. The HC found no error in the Tribunal's decision and ruled no substantial question of law arose. Case-Laws Income Tax Mon, 20 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438653