Dismissing the appeal of the revenue the Court held that ; Only the actual expenses for earning dividend income ought to be taken and not on estimate basis . ( AY. 2003 -04 to 2006 -07)
CIT v. Reliance Industries Ltd ( 2018) 161 DTR 420/( 2019) 410 ITR 468 ( Bom) (HC)
S. 80M : Inter corporate dividends -Only the actual expenses for earning dividend income ought to be taken and not on estimate basis .