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allowable business expenditure / loss

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(Querist)
27 January 2009 Can some one provide me relevant income tax circular which gives relief to share brokers for the losses occurred due to wrong punching of transactions of the customers.
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chetan soni

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chetan soni (Expert)
27 January 2009 It can be covered u/s 37 as general expenditure. Because this transaction complys with all basic conditions of Section 37.

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