https://www.taxtmi.com/caselaws?id=151796 The Tribunal upheld the disallowance of a firm's claimed deduction of Rs. 3,40,000 as brokerage paid under 'Income from property'. It was held that brokerage expenses were not deductible under 'House property' income calculations, emphasizing the exhaustive nature of available deductions. The Tribunal ruled that brokerage payments could not be considered in determining annual letting value under sections 23 and 24, highlighting the absence of provisions for such deductions. Additionally, the Tribunal clarified that brokerage expenses were not allowable as a necessary payment under section 23(1)(b) and that the scrapped section 24(1)(viii) could not be applied for the relevant assessment year. en-us Thu, 07 Oct 2004 00:00:00 +0530 Mon, 17 Jun 2013 10:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151796 The Tribunal upheld the disallowance of a firm's claimed deduction of Rs. 3,40,000 as brokerage paid under 'Income from property'. It was held that brokerage expenses were not deductible under 'House property' income calculations, emphasizing the exhaustive nature of available deductions. The Tribunal ruled that brokerage payments could not be considered in determining annual letting value under sections 23 and 24, highlighting the absence of provisions for such deductions. Additionally, the Tribunal clarified that brokerage expenses were not allowable as a necessary payment under section 23(1)(b) and that the scrapped section 24(1)(viii) could not be applied for the relevant assessment year. Case-Laws Income Tax Thu, 07 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151796