Tribunal allows only fifty per cent of expenditure incurred to earn investment income

ITAT MUMBAI BENCH ‘A’ Anil Kumar Nehru versus Assistant Commissioner of Income-tax IT Appeal Nos. 526 & 527 (MUM.) OF 2009 [ASSESSMENT YEARS 2004-05 & 2005-06] DECEMBER 26, 2012 ORDER Sanjay Arora, Accountant Member This is a set of two Appeals by the Assessee, i.e., for two consecutive years, being assessment years 2004-05 and 2005-06, directed against separate Orders of even date, i.e., 15.10.2008, by the Commissioner of Income Tax (Appeals)-XVI, Mumbai (‘CIT(A)’ for short), disposing the assessee’s appeals contesting its assessments f...