https://www.taxtmi.com/caselaws?id=216806 The Tribunal upheld the CIT(A)'s decision to dismiss the revenue's appeal on both grounds. The disallowances of Rs. 1,58,41,607/- for sub-brokerage payment and Rs. 9,47,438/- for writing off interest receivable were found to be allowable under the Income Tax Act as they were made out of commercial expediency. The Tribunal concluded that the provisions of section 40A(2)(a) were not applicable in these circumstances, leading to the dismissal of the revenue's appeal. en-us Fri, 22 Jun 2012 00:00:00 +0530 Sun, 23 Sep 2012 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216806 The Tribunal upheld the CIT(A)'s decision to dismiss the revenue's appeal on both grounds. The disallowances of Rs. 1,58,41,607/- for sub-brokerage payment and Rs. 9,47,438/- for writing off interest receivable were found to be allowable under the Income Tax Act as they were made out of commercial expediency. The Tribunal concluded that the provisions of section 40A(2)(a) were not applicable in these circumstances, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216806