https://www.taxtmi.com/caselaws?id=411296 Supervisory and risk management expenses claimed in the brokerage business were treated as allowable business expenditure because similar outgoings had been accepted in earlier and later years and no valid basis was shown to depart from that consistent position; the disallowance was therefore not sustained. Compensation received on termination of a lease agreement was held not to support a standard deduction under section 24(a), as the factual basis for treating the receipt as house property income was not made out; the addition was upheld. Both cross appeals were dismissed and the lower authorities' findings were left undisturbed. en-us Thu, 19 Aug 2021 00:00:00 +0530 Sat, 21 Aug 2021 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411296 Supervisory and risk management expenses claimed in the brokerage business were treated as allowable business expenditure because similar outgoings had been accepted in earlier and later years and no valid basis was shown to depart from that consistent position; the disallowance was therefore not sustained. Compensation received on termination of a lease agreement was held not to support a standard deduction under section 24(a), as the factual basis for treating the receipt as house property income was not made out; the addition was upheld. Both cross appeals were dismissed and the lower authorities' findings were left undisturbed. Case-Laws Income Tax Thu, 19 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411296