Disallowance for rent and royalty now treated like commission or brokerage under section 40, with cross-reference definitions. Amendment adds rent and royalty to payments treated like commission or brokerage for disallowance purposes and appends definitions by cross-reference to existing Income-tax Act explanations, making rent and royalty subject to the same deductibility rules as commission or brokerage.
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Provisions expressly mentioned in the judgment/order text.
Disallowance for rent and royalty now treated like commission or brokerage under section 40, with cross-reference definitions.
Amendment adds rent and royalty to payments treated like commission or brokerage for disallowance purposes and appends definitions by cross-reference to existing Income-tax Act explanations, making rent and royalty subject to the same deductibility rules as commission or brokerage.
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