Held that stock brokerage, Expenditure on broadband, lease rent, software customisation, facility management, repair and maintenance is allowable as revenue expenditure. No change in facts and circumstances from earlier years. Order of Tribunal is followed (AY. 2012-13)
HDFC Securities Ltd. v. CIT (Appeals) (2024)115 ITR 179/ 169 taxmann.com 365 (Mum)(Trib)
S.37(1): Business expenditure-Capital or revenue-Stock brokerage-Expenditure on broadband, lease rent, software customisation, facility management, repair and maintenance-Allowable as revenue expenditure. [S. 32, 40(a)(ia)]