Disallowance of brokerage paid on acquisition of investments - ...
Income Tax
July 12, 2022
Disallowance of brokerage paid on acquisition of investments - whether the expenditure is in the nature of capital expenditure and forms a part of cost of asset - When it is not the claim of the ld AO that valuation of securities held as stock in trade at the end of the year is not valued higher to the extent of commission and brokerage incurred on these securities to determine “at cost” valuation , we do not find any reason to uphold disallowance made by the ld AO. - AT
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