Bank Commission Payments Recognized as Valid Business Expense Under Legitimate Operational Costs and Accounting Principles

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....HC held that client assistant charges paid to ICICI Bank Ltd constitute legitimate business expenditure. The court rejected revenue's disallowance of expenses, finding that: (1) sharing brokerage with ICICI Bank does not invalidate the expenditure, (2) the bank's deposit earnings cannot negate the assessee's legitimate business expense, and (3) the expenses were directly connected to the broking business infrastructure. Regarding notional losses, the court followed SC precedent in Suzlon Energy Ltd, allowing deductions based on conservative accounting principles. No substantial questions of law were identified, and both revenue's and assessee's proposed questions were consequently dismissed.....