Held that expenditure is wholly and exclusively for purpose of business. The expenditure could not be categorized in capital filed on plea of enduring benefit. The expenditure incurred on brokerage was to be allowed. (AY. 2013-14)
DCIT v. Axis Asset Management Co. Ltd. (2021) 190 ITD 682 (Mum.)(Trib.)
S. 37(1) : Business expenditure-Brokerage expenditure-Deferred expenditure in books of account-Allowable as business expenditure.