https://www.taxtmi.com/caselaws?id=355660 Commission expenditure was allowed where the assessee produced payment details and no lack of business nexus was found, so the disallowance failed. Interest on borrowed funds was remanded for fresh verification on whether it formed part of cost of acquisition, while the date of allotment was treated as the date of acquisition for capital gains purposes, supporting long-term capital asset treatment. A fresh claim for interest expenditure as business deduction was held entertainable at the appellate stage even without a revised return, and the matter was remitted for merits-based examination. en-us Mon, 05 Feb 2018 00:00:00 +0530 Fri, 16 Feb 2018 07:16:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355660 Commission expenditure was allowed where the assessee produced payment details and no lack of business nexus was found, so the disallowance failed. Interest on borrowed funds was remanded for fresh verification on whether it formed part of cost of acquisition, while the date of allotment was treated as the date of acquisition for capital gains purposes, supporting long-term capital asset treatment. A fresh claim for interest expenditure as business deduction was held entertainable at the appellate stage even without a revised return, and the matter was remitted for merits-based examination. Case-Laws Income Tax Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355660