https://www.taxtmi.com/caselaws?id=372629 The Tribunal upheld the decision to restrict the disallowance of sub brokerage expenses to 10% for the assessment years 2007-08 and 2009-10. Despite the Revenue's argument for a 20% disallowance based on a previous year, the Tribunal found the differences in business turnover made direct comparison inappropriate. The Tribunal directed the assessing officer to recalculate the disallowance at 10%, emphasizing the genuineness of the expenses and the reasonableness of the estimation. Both appeals were dismissed, affirming the Tribunal's decision on the sub brokerage expenses disallowance. en-us Mon, 17 Dec 2018 00:00:00 +0530 Wed, 26 Dec 2018 11:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372629 The Tribunal upheld the decision to restrict the disallowance of sub brokerage expenses to 10% for the assessment years 2007-08 and 2009-10. Despite the Revenue's argument for a 20% disallowance based on a previous year, the Tribunal found the differences in business turnover made direct comparison inappropriate. The Tribunal directed the assessing officer to recalculate the disallowance at 10%, emphasizing the genuineness of the expenses and the reasonableness of the estimation. Both appeals were dismissed, affirming the Tribunal's decision on the sub brokerage expenses disallowance. Case-Laws Income Tax Mon, 17 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372629