Manoj Kumar Damani vs ACIT

Whether loss from F&O transactions through a broker whose registration was later cancelled can be treated as bogus and disallowed --- Held No; Whether salary payments to specified persons can be disallowed under section 40A(2)(b) without evidence of excessiveness --- Held No; Whether consultancy charges paid for share market expertise can be disallowed without evidence of non-genuineness --- Held No; Whether rebate under section 88E for Securities Transaction Tax can be denied without cogent reasons --- Held No