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Assessee Allowed Deduction for Forfeited Security Deposits as Business Expense u/s 37(1) for Lease Shops.

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....Claim of deduction u/s 37(1) - Security deposit written off - security wa paid for obtaining shops on lease - the assessee be allowed to claim the loss incurred in forfeiture of security deposits given for lease of rental premises as the expenses are incurred wholly and exclusively for the purpose of business - AT....

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Assessee Allowed Deduction for Forfeited Security Deposits as Business Expense u/s 37(1) for Lease Shops.