Whether commission paid on shares borrowed for pledging them as security against income tax demands is allowable?
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Allowability of expense
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No. It’s a nondeductible expense.
Kindly refer below mentioned link for more relevant case laws...
https://imazzea.biz/forums/thread/9/
(Login to Imazzea.biz and in the left hand side you will find Forum option under Tax Topic)
Regards.
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