Follow Us:

Case Law Details

Case Name : Shyam Sunder Duggal, HUF Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2005-06
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Shyam Sunder Duggal Vs ACIT (ITAT Mumbai) The only grievance of the assessee is that the Ld.CIT (A) has wrongly confirmed the addition of Rs. 7,77,000/- made by the AO by making disallowance of fees paid to Portfolio Managers. As is clear from the record that the assessee paid Rs. 7,77,744/- to PMS providers and claimed the said amount on the ground that the said expenses is allowable expenditure u/s 48 of the Act. But, the AO rejected the contentions of the assessee holding that the management fees paid to Portfolio Managers cannot be treated as the expenditure incurred wholly and exclusively...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Ads Free tax News and Updates
Search Post by Date
April 2026
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930