TMI Blog1988 (9) TMI 355X X X X Extracts X X X X X X X X Extracts X X X X ..... elling expenses and ₹ 17,245 representing expenditure on law costs and stamps in respect of a defunct business in the computation of the total income of the assessee ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal as justified in holding that the expenses of ₹ 10,221 on travelling and of ₹ 17,245 on law costs and stamps were incurred in the busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eld that the expenses as mentioned in question Nos. 1 and 2, were incurred for the purposes of protecting the company's assets. The Tribunal upheld the finding of the Commissioner (Appeals). The Tribunal further held that the amounts in question were spent in the business interest of the assessee and were deductible in the computation of its total income. These findings of the Tribunal have no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation. The sending of the three dividend warrants of the Bank would not involve any expenditure. On this fact, the Tribunal upheld the order of the Commissioner (Appeals) deleting the expenditure deducted by the ITO to determine the dividend income for the purpose of allowance of relief under section 80M of the Income-tax Act, 1961. 5. In our view, the Tribunal came to a correct conclusion. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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