https://www.taxtmi.com/caselaws?id=471580 Brokerage expenditure for facilitating property sales is fully allowable where the recipient is not a related party, has offered the receipt to tax, and no independent material, comparable instance, or verification shows that the payment exceeds market value. Restricting the deduction solely by reference to an earlier year is unsupported. Unsold flats constructed for sale and recorded as closing stock retain their character as business stock-in-trade. In a construction-and-sale business, such assets are not subject to notional annual letting value under the house-property provisions; income connected with them falls under the business-income framework. en-us Thu, 26 Dec 2024 00:00:00 +0530 Wed, 09 Sep 2026 19:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471580 Brokerage expenditure for facilitating property sales is fully allowable where the recipient is not a related party, has offered the receipt to tax, and no independent material, comparable instance, or verification shows that the payment exceeds market value. Restricting the deduction solely by reference to an earlier year is unsupported. Unsold flats constructed for sale and recorded as closing stock retain their character as business stock-in-trade. In a construction-and-sale business, such assets are not subject to notional annual letting value under the house-property provisions; income connected with them falls under the business-income framework. Case-Laws Income Tax Thu, 26 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471580