2010 (10) TMI 1111

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....ondent by: Shri Rajiv Khandelwal. O R D E R Per T.R.SOOD, AM: In this appeal, the revenue has raised the following ground: 1. On the facts and in the circumstances of the case and in law, the Ld. CIT[A] erred in deleting the addition of Rs. 19,57,735/- made by the AO without appreciating the fact the assessee was following cash payment of accounting and the claim of the assessee was outsi....

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....rchase of shares on their behalf constitutes debt which is a trading debt. The brokerage/commission income arising from such transactions very much forms part of the said debt and when the amount of such brokerage/commission has been taken into account in computation of income of the assessee of the relevant previous year or any earlier year, it satisfies the condition stipulated in section 362)(i....