Membership fee paid to stock exchange for acquiring right in membership is capital expenditure: ITAT

INCOME TAX : Where Assessing Officer computed disallowance of expenses incurred on earning exempt income by invoking provision of rule 8D by having regard to books of account of assessee and considering fact that although assessee had made investment in shares and securities which yield exempt income, no disallowance was made in relation to expenses relatable to such exempt income, impugned disallowance was justified

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