https://www.taxtmi.com/caselaws?id=789965 Retainership and professional fees for media management and joint venture support were held allowable in principle because they arose from a bona fide commercial arrangement; for AY 2005-06, only proportionate deduction was admissible as the arrangement operated for seven months, while full deduction was available for later years. Reimbursement of joint venture operating expenses was also allowable on the same business footing. Section 14A applied to exempt dividend income, but the flat disallowance was reduced to a reasonable 1% estimate of the relevant investment. Fuel, telephone and business promotion expenses were not disallowed on mere conjecture of personal use. Section 40(a)(ia) was held inapplicable to mere short deduction, and amounts already disallowed or not claimed as expenditure could not be further disallowed. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789965 Retainership and professional fees for media management and joint venture support were held allowable in principle because they arose from a bona fide commercial arrangement; for AY 2005-06, only proportionate deduction was admissible as the arrangement operated for seven months, while full deduction was available for later years. Reimbursement of joint venture operating expenses was also allowable on the same business footing. Section 14A applied to exempt dividend income, but the flat disallowance was reduced to a reasonable 1% estimate of the relevant investment. Fuel, telephone and business promotion expenses were not disallowed on mere conjecture of personal use. Section 40(a)(ia) was held inapplicable to mere short deduction, and amounts already disallowed or not claimed as expenditure could not be further disallowed. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789965