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Shivnarayan Nemani Shares & Stock Brokers (P) Ltd. v. DCIT (2022) 192 ITD 50 (Mum.)(Trib.)

S. 37(1) : Business expenditure-Sub-brokerage-Held to be allowable as deduction.

Sub-brokerage accounted for recipients was higher than amount of sub-brokerage accounted in its books of account. Disallowance is deleted. (AY. 2008-09)