https://www.taxtmi.com/caselaws?id=768566 Client assistant charges paid in the course of a brokerage business were treated as allowable business expenditure because the payment was actually incurred for business operations, and a third party's benefit from the arrangement did not make the expense inadmissible absent any legal prohibition. Unrealised loss on open futures and options positions was also treated as allowable, as a conservative provision connected with the business and not merely a disallowable notional loss. The commentary notes that the deductions were upheld on these principles and that no substantial question of law arose on the proposed issues. en-us Wed, 02 Apr 2025 00:00:00 +0530 Wed, 09 Apr 2025 07:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768566 Client assistant charges paid in the course of a brokerage business were treated as allowable business expenditure because the payment was actually incurred for business operations, and a third party's benefit from the arrangement did not make the expense inadmissible absent any legal prohibition. Unrealised loss on open futures and options positions was also treated as allowable, as a conservative provision connected with the business and not merely a disallowable notional loss. The commentary notes that the deductions were upheld on these principles and that no substantial question of law arose on the proposed issues. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768566