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2018 (12) TMI 1398 - HC - Income TaxDisallowance to 10% of the sub brokerage expenses - Held that:- Taking into consideration the volume of the business, the assessing officer was directed to recompute disallowance at 10% of sub-brokers expenses claimed by the assessee in its books of accounts. We further note that that there is no dispute regarding genuineness of the expenses. The only issue with respect of percentage of expenses to be disallowed on account of payment made to the sub-brokers. We find that considering the facts and circumstances of the case, the Tribunal not accepting 20% disallowance and limiting the disallowance to 10% in these facts cannot be said to be perverse in any manner. Further, in any view of the matter the percentage of disallowance of expenses on the basis of estimate which is a plausible estimate, no substantial question of law would arise. Thus, both the appeals do not merit consideration.
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