No trading what about expenses?

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Aditya (Querist)
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22 February 2016 Sir, If the assessee has not done any trading during the year.. I.e opn stock becomes clo stock no purchase no sale.. and has some indirect income such as rent commission or so.. then the expenses claimed in pnl account are allowable in income tax ??

praveen

praveen (Expert)
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22 February 2016 You will have to really prove the expenditure that you are claiming to be legitimate. Since there is no activity was there a requirement to incur these expenses. If yes then you can claim if no then it will be disallowed.

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