TMI Blog2019 (1) TMI 1614X X X X Extracts X X X X X X X X Extracts X X X X ..... T] this Court after framing questions with respect to allowance under brokerage and commission claimed by the assessee in the context of percentage completion method adopted by it held brokerage and commission is not a direct expenses for acquiring to a specific property but it is in fact financial cost/selling expenses and is fully allowable in the year in which the same is incurred. The property brokers who have rendered their services to obtain advances on booking of properties are entitled to the payment of commission in terms of agreement entered into with them. Therefore, the expenses incurred on brokerage and commission on booking of properties being a finance/selling expenses are allowable in full. Membership receipt towards cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No question of law arises. So far as the question of brokerage is concerned, the issue stands covered in ITA No.54/2019 decided on 23.01.2019. The court had then observed as under: - In DLF Universal Limited (supra), this Court after framing questions with respect to allowance under brokerage and commission claimed by the assessee in the context of percentage completion method adopted by it held as follows: 8. The assessee had claimed ₹ 61,78,414/- as expenditure towards brokerage and commission. The amount was paid to its brokers for booking and sale of certain properties during the assessment year. The Assessing Officer disallowed this expenditure on the ground that during the year the conveyance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nue has not chosen to challenge it. Even otherwise, we are of the opinion that such expenditure has to be allowed. The question of law is consequently answered in favour of the assessee and against the Revenue. The third issue with respect to membership receipt towards club membership, is covered by another decision of this court in ITA 180/2012, Commissioner of Income Tax vs. DLF Commercial Developers Ltd., decided on 30.03.2012. It was held that the treatment in the concerned year of receipt is in accordance with the principles of accountancy. No question of law therefore arises. In view of the above discussion, this court finds that no substantial question of law arises. The appeal is accordingly dismissed. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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